Minutes - 08-30-2001 - Laserfiche WebLink

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APPROVED 111612002 MINUTES ORANGE COUNTY BOARD OF COMMISSIONERS WORK SESSION AUGUST S0, 2001 The Orange County Board of Commissioners met for a Work Session on Thursday, August 30, 2001 at 7:30 p.m. at the Southern Human Services Center in Chapel Hill, North Carolina. COUNTY COMMISSIONERS PRESENT: Chair Stephen H. Halkiotis and Commissioners Margaret W. Brown, Moses Carey, Jr., Alice M. Gordon, and Barry Jacobs COUNTY ATTORNEY PRESENT: Geoffrey Gledhill COUNTY STAFF PRESENT: County Manager John M. Link, Jr., Assistant County Manager Rod Visser, and Clerk to the Board Beverly A. Blythe (all other staff members will be identified appropriately below} NOTE: ALL DOCUMENTS REFERRED TO IN THESE MINUTES ARE IN THE PERMANENT AGENDA FILE IN THE CLERK'S OFFICE. Chair Halkiotis announced a moment of silence because Commissioner Cordon's mother passed away exactly one year ago today. He expressed to Commissioner Gordon his condolences of this one-year anniversary. 1. Determination of Specific Final Elements of Band Questions County Manager John Link said that next Tuesday the County Commissioners must be able to define the final bond questions and also define projects under each of the bond issues -school projects, recreation and parks, affordable housing, senior centers, and acquiring public property. On September 5t" the Bond Education Committee will meet and start the education process of the bond referendum. He said that the County Commissioners must determine the total amount of the bond and identify the items within the school band and the recreation and parks bond. Budget Director Donna Dean distributed a document showing the projected debt capacity. She explained the debt capacity and the estimated amount that would be needed each year far the bond referendum and the additional capacity available for alternative financing of projects that are not on the bond. The total debt capacity over the next five years would be approximately $105 million. With a $75 million bond package, there would be $30 million in debt capacity over the next four years to da some alternative financing, either certificates of participation or private placement. Chair Halkiotis said that some of the projects listed for Orange County government have just been presented in a report and no official action has been taken on these projects. These include the Government Services Center addition, Planning and Ag Center renovations, and a farmer's market. Commissioner Carey asked about the additional debt capacity and noted that it begins to increase in the years 2003-2004. Donna Dean said that over the next two years the County will reach a peak debt amount and then it will begin to decrease and there will be some additional capacity. Commissioner Gordon asked what would be included in alternative financing and in particular if impact fees were included in her calculations for total debt capacity. Donna Dean said that impact fees are considered pay-as-you-go revenue and not included in her calculations.