BKF was commissioned by the San Luis Obispo Council of Governments (SLOCOG) to undertake a Funding Strategies Assessment & Gap Analysis, This initiative was geared towards identifying funding sources to support the implementation of water, wastewater, and transportation infrastructure needs highlighted in the Housing & Infrastructure Regional Framework (Framework), which included 80 total county-wide projects.

BKF’s analysis evaluated the disparity between the cost estimate for each project and the anticipated funding that could be obtained through various financial mechanisms such as grants, bonds, loans, and tax measures.

The Funding Analysis involved several steps:

1. Project Assessment & Funding Requirement Determination: A thorough review and categorization of the list of underfunded Framework projects was conducted. The final project list included a diverse mix of projects, including: transportation, water, and wastewater projects.
2. Identification & Evaluation of Potential Funding Sources: An extensive research process was undertaken to identify potential funding sources. This included exploring a wide range of funding mechanisms, researching specific grant funding opportunities, conducting a detailed analysis of the funders’ priorities and eligibility criteria, and matching projects with suitable grant funding opportunities.
3. Estimation of Potential Grant Funding: For each identified funding source, the probability of securing funds was assessed. This involved considering several factors such as competition, past award history, and project alignment with the grant guidelines. Based on the assessment, the average grant award available for each project was calculated. Any constraints or limitations associated with the funding sources were also considered.
4. Calculation of the Funding Gap: After estimating the potential grant funding, the funding gap was calculated. This involved determining the total funding needed for each project, comparing it with the potential grant funding, and identifying the difference.

The Funding Strategies Assessment and Gap Analysis also included a detailed grant calendar, outlining estimated funds available by quarter from various agencies.

This detailed and dynamic process allowed BKF to estimate the potential grant funding for SLOCOG’s Framework projects and calculate the funding gap, setting the stage for implementing strategies to bridge this gap.