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<br /> Water&Sewer Utilities Capital Projects - REVISED
<br /> Fiscal Years 2012-17
<br /> Project Name Central Efland/North Buckhorn Sewer Expansion Project Status Approved
<br /> Functional Service Area Community and Environment Starting Date 71112010
<br /> Department Planning Completion Date 313112013
<br /> Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6
<br /> Prior Years Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to
<br /> Project Budget Funding 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 Total Year 10
<br /> Appropriation
<br /> Professional Services 34,000 -
<br /> Land/Building 59,900 -
<br /> Construction/Repairs/Renovations 4,693,101 Equipment/Furnishings
<br /> Total Project Budget 4,727,101 - - - - - -
<br /> General Fund Related Operating Costs
<br /> Personnel Services
<br /> Operations
<br /> New Debt Service 225,000 225,000 225,000 225,000 225,000 1,125,000 1,125,000
<br /> Total Operating Costs 1 225,000 225,000 225,000 225,000 225,000 1,125,000 1 1,125,000
<br /> Revenues/Funding Source
<br /> Transfers from General Fund 59,900 33,701 225,000 225,000 225,000 225,000 225,000 1,125,000 1,125,000
<br /> EPA Special Appropriations Grant 1,348,400 -
<br /> State Revolving Loan Funds 3,345,000 -
<br /> Debt Financing -
<br /> Total 4,727,101 225,000 225,000 225,000 225,000 225,000 1,125,000 1 1,125,000
<br /> Project Description/Justification
<br /> In the mid-1980s,the decision was made to construct public sewer service in the Efland Community. The County's funding ran out before the entire community could be
<br /> served, but there were approximately 80 residents remaining who had signed up to receive sewer and never did. The Central Efland portion of this project will provide
<br /> sewer service availability to the majority of those properties that requested service 25 years ago, in addition to providing sewer availability to most of the rest of the Efland
<br /> Community. The Northern Buckhorn project will be an extension of the City of Mebane's sewer system and will serve residents in the area along Buckhorn Road
<br /> between the Interstate and the railroad tracks. This portion of the project is made possible by EPA Special Appropriations Grants that were earmarked by Congressman
<br /> David Price and applied for by the County. The vast majority of the Central Efland project will be paid for by the remainder of the EPA grant and by a DENR State
<br /> Revolving Loan Fund. An estimate of the debt service is shown above, based on the full loan amount of$3,500,000, an interest rate of 2.445%and the maximum term of
<br /> 20 years. The full loan amount of$3,500,000 is a maximum line of credit. The debt service payments would be based on the actual amount used. Orange County will
<br /> not be using the full$3,500,000 line of credit since contracts were bid lower. When Orange County closes the project,the remaining monies will return to DENR and be n
<br /> 'reallocated'to an associated project known as McGowan Creek Outfall shown in a separate CIP project. Therefore,there will likely not be new debt above the original J(,>
<br /> project noted herein.
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