Select Priority Projects
The second step to accessing funding and financing options is to select priority projects from the full list compiled in Step 1.
To identify municipal priorities stakeholders should develop criteria for summarizing and comparing options, for example:
- Project readiness
- Feasibility for implementation
- Municipal goals for “early wins” or longer-term planning
- Whether the project achieves multiple benefits, for example, stormwater management, flooding resilience, habitat restoration, and recreation
- Whether the project incorporates green infrastructure and/or nature-based solutions for coastal resilience or stormwater management
- Does the project advance equity goals or provide benefits to residents or neighborhoods disproportionately affected or susceptible to environmental and health impacts
This process can also identify any key considerations around staff capacity to implement and administer different funding opportunities and programs (for example, the people, time, and money likely to be associated with both the pursuit of funding or financing and the project’s implementation).
Case Study – Kewaunee, Wisconsin. For example, as part of a funding option evaluation, Kewaunee, Wisconsin, selected two closely related priority projects from their updated Harbor Master Plan. These projects were selected because they included green infrastructure / nature-based solutions; address multiple challenges, for example, stormwater management, habitat restoration, and shoreline rehabilitation; and provide multiple priority benefits, for example, recreation and accessibility, and coastal resilience. These projects were also priorities because they offer an opportunity for an early “win” given the high feasibility of completing the projects.
This prioritization process will help municipalities focus their funding and financing efforts on the most pressing projects that will provide the highest value to the community. To assist with this project prioritization process, download this customizable Project List & Priority Template.
Once priority projects are selected, Step 3 is to value multiple benefits. Already know the benefits of your projects? Jump to Step 4 – Select Priority Funding Opportunities to identify best-fit grant options and get easy access to grant resources and application materials.
