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<br />33 I City of Redwood City <br /> <br />- <br /> <br />7A <br />Page 39 <br /> <br />Funding Strategies <br /> <br />PUBLIC AND PRIVATE PARTNERSHIPS <br /> <br />Partnership arrangements \\'ith private organizations <br />including organizations of user communities. and even <br />somt' vendor's ca n genera te. I'esources to insta II faei! ity <br />imp['()vemenls and upgrades and should be considered. <br />TtH\ City has iclmlt.ifiml a partrwl'Rllip opportunity with <br />tJl(' i\ational Foothall League. with whom the City has <br />an existing 1'f'lationship. <br /> <br />CERTIFICATES OF PARTICIPATION <br /> <br />C<,rl.ificates of Participation (COP's) are a form of lease <br />pllrchasl' agrc'em('nt that does not constHutp. indebtedness <br />under 111(' State constiLutional d('ht limit and docs not require <br />\'O[[~I' approval. In a typical case. a local government entity <br />decides to acquirr a nt'w or renovatc(f puhlic facilit.y, This <br />facility is purchaser! or constructed hy a vemlor corporation. <br />and t.he local govel'llment signs a lease agreement with the <br />corpora Lion to use Lhe fa('Uit.~'. An lJ(H.lel'\\'f i ling firm then llUY~ <br />Ih(' IC>8Sr. ohligation from the vendor corporation. and divides <br />it into small units called "COP's". Each COP represents a <br />shart' of the Ie.ast' payment revenue stream. Tile. underwriter <br />I.Iwn places t,ll(' COP issu(~ with a han~. which then sells t.he <br />n'l'til'icales lu individual investors. TIle lucal guvel'lllneut <br />makes the lease paymrnts to the bank, which in turn makes <br />paymf.llt$ to t.hp. Ct'rtifir.al.f': IlOl(lel's. :\1 Ih(~ end of lhr. ]r-asr. <br />flt'riod, title to the facility passes to the local government <br />r.nlily at nominal cost, Imerest paid to the certificate holders <br />is tax-exempt. <br /> <br />/\ COP does not itself generate an income stream that will <br />1)(' used to make the required periodic payments. [I is. rat.her, <br />a way to capitalize an already existing income stl'eam or to <br />create the wherewithal Lo pur'chase or construct an income <br />producing public improvement. <br /> <br />THE <br /> <br />SpOrts Management <br />11_, G R 0 U P <br />~ <br />~ <br /> <br />REDEVELOPMENT TAX INCREMENT <br /> <br />A California cit.y or county can establish a re(levelopment <br />agt'ncy 10 unclC'I'l.ake the revitalization of an area that <br />it finds to he "hligh ted". The redevelopment agency can <br />inclIr inlieht.eullcs::; lo finance illlfJl'UVCIlWllLS needed <br />to accomplish the goals of it~ redeveloprnl'nl plan, The <br />property tax base in the redevelopment al'ea is ufrozrn", <br />and increments in property t.axes after the tax base is <br />frozl'O go into the re(jev(~lopml'nL fund to be used for the <br />nllancillg of improvcllIclIlS, Voter appro\'al i::; Ilotrcqllll'ed <br />roJ' I('IX inrrmnr.nl finanr,ing. Such financing ('an he us(~(1 only <br />1'01' racilities to support the nerds or redcvelopment a~ I.lw <br />City has done for the impI'ovrments to the (!owntown. This <br />InC'chanism can hl' used for park and recl'ration improvemrnts <br />that are Included in a l'cc1cveIopmrnt plCln, <br /> <br />VOLUNTEER COMMUNITY LEADERSHIP <br /> <br />:\ successrul individual donor campaign typically <br />requires st.rong, visible community leaders who will <br />hotb "give and get" While once the modt'l exclusive to <br />the nonprofit sector, public agencies are no\\' recruil ing <br />and deploying high-level leaders from the husiness <br />communit.y and civic lifl' as thf' publiC face of important <br />capital programs. These individuals can. with propel' <br />sUPPOI'l, provide' endorsement. access to wealth <br />and a sense of enthusiasm in an otherwise' crowded <br />func1raising marketplace. <br />