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

Browse Search

REVISED 6/14/10 of P ;?o 10 - v 5-7 Attachment 1 Recreation and Parks Facilities — Twin Creeks Park Capital Project Ordinance Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized provides funds to construct a district park located on County -owned property near the intersection of Old Highway 86 and Eubanks Road in Chapel Hill. Plans include renovations to the house and barn located on the property, installation of water and sewer infrastructure and construction of playing fields, nature trails and a picnic area surrounding an existing pond. The BOCC approves transferring $300,000 of this project to the Unallocated Project Account to be closed as of June 30, 2010. The BOCC approves the appropriation of $900,000 ($734,400 interest income & $165,600 sales tax revenues) to cover the shortfall in this project to replace Alternative Financing as of June 30, 2010. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following revenue is anticipated to complete this project: Section 4. The following amount is appropriated for this project: As of 6 -15-10 Agenda Item 4. V. Amonded Agenda Item 4. W. Through FY 2009- 10 Sales Tax $0 $165,600 $165,600 2001 Bonds $550,000 $0 $550,000 Alternative Finance $1,000,000 ($900,000 ) $100,000 Interest Income $0 $734,400 $734,400 Transfer from Soccer Superfimd 2001 Bonds 1 $0 $0 $0 Total Fundingl $1,550,000 $0 $1,550,000 Section 4. The following amount is appropriated for this project: 4 As of 6 -15-10 Agenda Item 4.V. Amended Agenda Item 4.W. Through FY 2009 -10 Land/Building $50,814 $0 $50,814 Site Development $45,000 $0 $45,000 Construction $1,454,186 $0 $1,454,186 Other $0 $0 $0 Total Costs $1,550,000 $0 $1,550,000 4