Agenda - 03-01-2012 - 1 - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 1, 2012 Action Agenda Item No. � SUBJECT: To review and discuss the Manager's Recommended FY 2012-17 Capital Investment Plan CIP DEPARTMENT: Financiai Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Attachment 1. Manager Recommended Frank Clifton, County Manager FY 2012-17 County (919) 245-2453 Capital Investment Plan Clarence Grier, Financial Services, Attachment 2. New CIP Projects for FY (919) 245-2453 2012-17 Paul Laughton, Financial Services, (919) 245-2152 PURPOSE: To review and discuss the FY 2012-17 Manager's Recommended Orange County Capital Investment Plan. BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) that establishes a budget planning guide related to capital needs for the County as well as Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to- ear chan es in priorities, needs, and available resources. Y 9 Capital Investment Plan — Overview The FY 2012-17 CIP includes County Projects, School Projects, Proprietary Projects, and Special Revenue Projects. The Special Revenue Projects are a new addition in the FY 2012-17 CIP, and includes Economic Devel The Article 6cSales Taxewas app oved by the ote s n the 4 6 (1/4 c e n t) S a l e s T a x p r o c e e d s. November 2011 election, and is effective April 1, 2012. The CIP has been prepared anticipating continued slow economic growth of between 1-2% annually over the next five years. Many of the projects in the CIP will rely on debt financing to fund the projects. A Debt Service th s Dlannedpdebty Also ncluded in the CIP are sev eeal�new section of the document detailing p projects that were not part of the FY 2011-16 CIP (See Attachment 2).