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Funding of an LED Strategy
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Funding a LED strategy is often very difficult. One of the reasons for this is that local authorities often do not have a statutory responsibility to deliver LED services. When it comes to budget time, LED is competing for scarce resources with departments such as housing, health and education. Sometimes, it is difficult for elected officials to justify spending scarce resources on LED efforts because short time horizon responses are often perceived as more important than the LED initiatives that often have longer time horizons, and whose benefits may not be immediately apparent.
The LED strategy should have a budget. In selecting particular programs and projects, care needs to be taken to ensure that funds are available for the entire length of each project as projects are likely to span several financial years. Forward or exit strategies should also be developed.
Sources of funding for LED initiatives include:
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local authority revenue raised from the usual sources including property taxes and user fees
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sale or renting of local authority-owned industrial or commercial buildings and land
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national and state government intergovernmental transfers
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international donor grants and loans
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private sector funding such as corporate donations
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foundations, especially for environmental improvements, human resource initiatives and poverty alleviation
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