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The proposed interest rate is 4.35 per cent. Geof Gledhill explained that to maintain that rate, <br />the County must limit its new debt for 1996 to $10 million including this $2 million. If the County borrows more <br />than $10 million in one year, the interest rate would be higher. <br />A motion was made by Commissioner Halkiotis, seconded by Commissioner Crowther to <br />approve the resolution as presented authorizing the Chair and Clerk to the Board to complete documents <br />consummating the $2 million private placement financing arrangement with NationsBank for the Jail Addition, <br />Courthouse Addition, and Southern Human Services Center. <br />VOTE:®®UNANIMOUSH <br />VI. SPECIAL PRESENTATIONS <br />A. ORANGE COUNTY ARTS COMMISSION PRESENTATION OF GRANTS <br />AWARDS <br />Chair Carey presented checks to the recipients of grant awards. These are listed in the <br />agenda abstract. <br />VII. PUBLIC HEARINGS <br />A. COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM <br />Tara Fikes, Director of Housing and Community Development, asked for public comments on <br />the FY1996 Community Development Block Grant Program application in the Housing Development category. <br />These funds are provided by the N.C. Department of Commerce and the maximum amount is $250,000. <br />Susan Levy, Habitat for Humanity, asked that an application be prepared to build five homes in <br />Efland Estates in Efland. The money would be used for infrastructure. By using grant funds for the <br />infrastructure, these homes will be affordable for the low and moderate income. She gave the County <br />Commissioners an update on the homes that had been built and were currently under construction by Habitat. <br />There were no further comments and the public hearing was closed. Tara Fikes indicated that <br />an application will be prepared and presented for another public hearing and approval in March, 1996. <br />VIII. ITEMS FOR DECISION - CONSENT AGENDA <br />A motion was made by Commissioner Crowther, seconded by Commissioner Halkiotis to <br />approve those items on the Consent Agenda as stated below: <br />A. Z-8-95 JONES CONCRETE SERVICE - ZONING ATLAS <br />The Board approved a request to rezone a 1.54-acre lot from AR Agricultural-Residential to EC- <br />5 Existing Commercial in Cedar Grove Township. This lot is owned by Henry Ernest Jones at 5908 NC 86 <br />North. The premises has been used commercially for Jones Concrete Service since 1969. This rezoning will <br />correct an oversight during the original zoning of Cedar Grove Township which had an effective date of <br />January 1, 1994. <br />B. MINUTES <br />The Board approved the minutes for November 1, 1995 and November 27, 1995. <br />C. DRUG AND ALCOHOL TESTING COVERAGE UNDER THE COUNTY'S <br />TRIANGLE J AGREEMENT <br />The Board authorized the inclusion of Cedar Grove Day Care, Cedar Grove Head Start and <br />OPC Mental Health under Orange County's agreement of participation with the Triangle J Council of <br />Governments Safety Services Consortium for Local Governments. <br />D. HAZMAT GRANT <br />The Board accepted the $200 Implementation Grant for the Orange County Local Emergency <br />Planning Committee and authorized the Manager to sign the Memorandum of Understanding with the Division <br />of Emergency Management.