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' County Corn Meeting <br />12/15/98 <br />DL Costa — P &R Chair <br />plans in early1999. Cost estimates for the building are approximately $3.5 to $4 million. <br />Currently there is not sufficient funding to complete the project. Current remaining funds <br />total approximately $2,055,000. These include: <br />- $1.2 million in 1996 Town park bonds <br />- $855,000 in 1997 County park bonds allocated for Northern Community Park <br />Alternative funding is being explored by Town staff under direction of Council (2/3 rule <br />and lease installment plan). <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 Par <br />No Council decisions have been made at this point, except for the soccer field at the <br />school. The field will be available for use in the fall, 1999 and will be fully lighted and <br />irrigated. There is no conceptual plan for the remainder of the park at this point. <br />