Agenda - 06-15-2010 - 4v - Laserfiche WebLink

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County Capital Investment Plan Descriptions of Projects was converted to alternative financing in 2009 and remains to be issued. Of the bond appropriations to date, approximately $1.4 million remains, some of which is potentially obligated to ongoing negotiations. Both the pay -as- you -go and former bond funds are included in this project account. Twin Creeks Park Unallocated Project Budget $300,000 Twin Creeks (Moniese Nomp) District Park and Educational Campus was acquired in 2001 for a co- located district park and multi - school facility campus. The original budget for Twin Creeks Park, Phase I from 2001 Parks and Open Space Bond was $1.2 million. This was later augmented by $650,000 from Soccer Superfund, due to the master plan for four soccer fields at this park. However, infrastructure and other costs exceeded the ability to construct Phase I for available funds in 2005. In 2009, the concept of a new Phase I for Twin Creeks Park was broached, and the Board approved a new "linear park/greenway trail' Phase I of Twin Creeks Park in June 2009. Federal transportation stimulus dollars in the amount of $429,000 were awarded, and are expected for reimbursement. Construction is underway and is slated for completion in the summer /fall of this year. Earlier in 2010, the Board approved the potential transfer of the remaining $623,000 of Soccer Superfund monies to the Town of Chapel Hill Cedar Falls Park project, pending grant awards and Town funding. The exact amount of remaining funds is unknown until project is complete, but could be between $400,000 and $691,000 (including the $300,000 proposed for transfer here). Central Recreation Repairs Unallocated Project Budget $75,000 This is a portion of funds appropriated for repairs and renovations to Central Recreation Center in Hillsborough. Approximately $122,000 remains, $75,000 of which is not anticipated to be needed. 11 7