provide property owners with another option for services
beyond the legacy providers. Revenue or cost sharing
agreements could be entered into between the Town and
interested providers.
y y Real Estate Sales. The Town could apply proceeds
from the sale of surplus Town real estate to offset
undergrounding program costs.
y y Grant Funding. Grant funding such as the FEMA Pre-
Mitigation Grant program could be pursued to help offset
program costs. The Town is currently pursuing this type of
funding, however it is understood that the award amounts
are typically small in comparison to the cost of the
undergrounding program. Despite this, the grant funds
would offset the program costs and grants such as these
can be applied for on a phase by phase basis to maximize
the benefits so long as the federal government still offers
the funding program. It should be noted that grant funds
recei ved from state or federal sources to offset the costs
of an underground conversion program cannot exceed
the amount of the CIAC prior to the GAF Waiver being
applied in accordance with the FPL Tariff.
y y Sales Tax. The Town could use its share of the recent
penny sales tax referendum passed by Palm Beach County
to offset undergrounding program costs.
182 | CHAPTER TWELVE
TOWN OF PALM BEACH