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Supporting Documents (Data and Analysis) - Satellite Beach

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City’s Ability to Finance Capital Assets Plan<br />

Funding Sources<br />

The City of <strong>Satellite</strong> <strong>Beach</strong> considered all potential sources of funding for its Capital Assets Plan. Options<br />

included impact fees, user fees, franchise fees, special assessments, utility taxes, ad valorem taxes,<br />

stormwater utility assessments, <strong>and</strong> grants. The last four sources were selected by the City. Except for<br />

grants, there are no county, state, or federal funds available. With about 2 percent (2%) of the City’s l<strong>and</strong><br />

area remaining for development, impact fees were not a viable option. Additional user fees have been<br />

implemented at the <strong>Satellite</strong> <strong>Beach</strong> Sports <strong>and</strong> Recreation Park, David R. Schechter Recreation Center <strong>and</strong><br />

Pelican <strong>Beach</strong> Pavilions.<br />

Debt<br />

The City is currently debt-free <strong>and</strong> has no outst<strong>and</strong>ing bond issues. The Capital Assets Planning<br />

Committee recommended that, except for the purchase of real property, the City not engage in leasepurchase<br />

or other financing arrangements which would incur interest.<br />

Capital Improvements Element<br />

<strong>Data</strong> <strong>and</strong> <strong>Analysis</strong> 8-4

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