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ORANGE COUNTY <br />BOARD of COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: April 7, 2011 <br />Action Agenda' <br />Item No. I <br />SUBJECT: Work Session to discuss the Manager's Recommended 201 — 2016 Capital <br />Investment Plan ClP . <br />DEPARTMENT: E T: Manager & Financial Services PUBLIC HEARING: / No <br />ATTACHMENT(S): <br />Attachment 1: Updated Manager's <br />Recommended Orange <br />County Capital <br />Investment Plan to <br />replace document <br />presented on March 17, <br />2011. <br />INFORMATION CONTACT: <br />Frank Clifton, cuntr [tanager, <br />245 -2300 <br />Clarence Grier, Financial Services, <br />(919) 245 -2453 <br />Michael Talbert, Financial Services, <br />(919) 245.2153 <br />PURPOSES To review updates to the 2011-2016 Capital Investment Plan and discuss Board <br />priorities for the Recommended Orange County Capital Investment Plan. <br />BACKGROUND: For over 20 years, the county has produced a Capital Improvement Plan that <br />establishes a program of improvements for the County as well as Schools. The ClP was <br />originally prepared as a 5 year planning document that was re- evaluated annually to include <br />gear -to -gear changes in priorities, needs, and available resources. Over the gears, the C1P <br />evolved into a 10 year plan and the name was changed to the Capital investment Plan. The clP <br />has evolved over the gears to also include a Capital Funding Policy and Debt Management <br />Policy. The 2008-18 Capital investment Plan was the most recent 10 year CiP approved by the <br />Board. <br />capital Investment Plan — Premise: <br />The ciP has been prepared anticipating slow economic growth and recognizing the impact of <br />the great recession on local, state and federal budgets. There are significant uncertainties <br />surrounding the State Budget and the unknown impact on the Orange County Budget. Several <br />recommended projects have been moved further out in the five year plan, in both recognition of <br />the county's relative high debt service, and the impact of a slowly recovering economy. <br />Many of the projects in the CIP include: County Facilities, eater & Sewer Utilities, Parks <br />Open Sae, Solid Waste and Schools which relay on debt financing to fund the projects. The <br />Board will have to consider all of the available financing options for capital projects, including a <br />possible General Obligation Bond referendum for Public Improvements. <br />