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4 <br />developing a bid process for conceptual plans in early, 1999. Cost estimates for the <br />building are approximately $3.5 to $4 million. Currently there is not sufficient funding to <br />complete the project. Current remaining money is approximately $2,055,000 ($1.2 <br />million in 1996 Town park bonds and $855,000 in 1997 County park bonds allocated for <br />Northern Community Park). <br />At its August 24, 1998 meeting the Chapel Hill Town Council adopted a recommended <br />timetable for use of $2,000,000 in funds from the 1997 Orange County parks bonds. The <br />adopted schedule is: <br />YEAR <br />AMOUNT <br />SCHEDULE OF TOWN NEED FOR FUNDS <br />1998 <br />$145,000 <br />Construction of concession/restroom building at Northern <br />Community Park <br />1999 <br />$205,000 <br />School soccer field at Southern Village ($105,000) and Southern <br />Community Park conceptual plan/construction drawings <br />($100,000) <br />2001 <br />$795,000 <br />Construction of Phase I of Southern Community Park <br />2002 <br />$855,000 <br />Construction at Northern Community Park . <br />Future Development of Southern Community Park <br />No Council decisions have been made at this point, except soccer field at school. The <br />field will be available for use in the fall, 1999 and will be fully lighted and irrigated. <br />There is no conceptual plan for the remainder of the park at this point. <br />