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<br />cash flow needs for certain projects, the County needs to issue just over $50 million in debt <br />before June 30, 2007. The staff is asking the Board to authorize the staff to proceed with the <br />steps necessary to obtain the financing before this date. She listed the actions. The $50 million <br />would be financed for 20 years at a 6°~ interest rate. The debt service payment for next fiscal <br />year would be $1.5 million, ar about 1.2 cents on the tax rate. The following year, the payment <br />would be $5.5 million, or about 4.3 cents on the estimated tax rate. <br />PUBLIC COMMENT: <br />Cameron Tew asked to have his letter entered into the record. He said that he would be <br />amenable to discussing partnering with the County. He urged the Board of County <br />Commissioners to go out and watch soccer groups on Saturday mornings. The letter is below: <br />To: Moses Carey Jr., Chairman <br />Barry Jacobs, Vice Chairman <br />Valerie Foushee <br />Alice M. Gordan <br />Mike Nelson <br />Dear Orange County Commissioners, <br />A couple of weeks ago, a number of people involved with the soccer community, including <br />myself, came to speak to you regarding the planned construction of soccer fields at the West <br />Ten Soccer complex. At that time, many of us urged you to consider focusing efforts to build <br />soccer fields in the southern portion of Orange County where the fields might better serve the <br />majority of your constituency. <br />As you plan to meet on Feb. 20 to discuss the Authorization to Proceed With Alternative <br />Financing in which the remainder of the funds from the Soccer 5uperfund will be allocated, <br />Triangle United Soccer Association would ask that you do not earmark all the remaining money <br />to the West Ten Soccer Complex. Instead of building a large concession stand area, including <br />an extravagant scoreboard and other amenities outside of soccer fields, we'd suggest holding <br />back a portion of the money and meeting with people from the soccer community to best <br />determine how to allocate all of the funds. <br />Triangle United has not come to you in the past to discuss fields because we had felt we would <br />be better served to search for land to buy and build our own fields. We are actively searching for <br />appropriate sized parcels and have several potential donors ready to supply funding as needed <br />to help purchase land and build the fields. <br />Our organization would consider working with Orange County on apublic-private partnership to <br />build needed soccer fields in the area, if this was something that the Board of Commissioners <br />deemed appropriate. <br />Our club serves more than 2,500 youth players in the area, and other groups such as Rainbow <br />Soccer serve thousands of others. Our two groups would be the largest that any new fields in <br />the area would serve and we'd like to discuss options with you. <br />Regards, <br />