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5 <br /> 1 majority of construction costs would occur in FY 2014-15, with an anticipated opening <br /> 2 date of August 2015. Currently, this project is not included in the Manager's <br /> 3 Recommended FY 2013-18 CIP. The impact of including this project in the CIP would <br /> 4 increase annual debt payments by a total of$477,281 ($57,600 in FY 14-15, $427,388 <br /> 5 in FY 15-16, and $477,281 starting in FY 16-17 and future years). <br /> 6 <br /> 7 Commissioner Gordon said she would like to direct staff to provide the Board of County <br /> 8 Commissioners with a funding plan for the science wing, using the-timeline provided by CHCCS <br /> 9 and add it on to the CIP-. -She would like to see how that affects the budget. She thinks that <br /> 10 there is enough room in the available debt capacity, and she cited the debt capacity numbers. <br /> 11 Commissioner Dorosin asked how much would have to be taken out of the budget to <br /> 12 fund this. <br /> 13 Frank Clifton said the easiest thing would be to move Lands Legacy to years 6-10. <br /> 14 Clarence Grier said in order to assume that debt,they would have to move$7.6 million <br /> 15 worth of projects out to accommodate this. <br /> 16 Frank Clifton said the south library could be moved to a later date also. <br /> 17 Commissioner Dorosin wants to know the max number that can be kept in the CIP and <br /> 18 the number that has to be removed to accommodate this science wing. <br /> 19 Paul Laughton said CHCCS stated that if this wing was funded, it could defer middle <br /> 20 school #5 for two years. <br /> 21 Frank Clifton said no projects would have to be removed, but only moved around to later <br /> 22 years. <br /> 23 Chair Jacobs asked Paul Laughton to include these other factors along with <br /> 24 Commissioner Gordon's request to answer the questions tonight. He also asked that Paul <br /> 25 Laughton address pages 101-102 regarding debt capacity that is not totally committed. <br /> 26 Paul Laughton made reference to the last two lines on page 102 and the debt the <br /> 27 County has now and the new debt that will be added in 2012-13. The debt service is at <br /> 28 13.83%. The goal is to stay-below 15%. To stay at the 15%, there is $2.1 million available to <br /> 29 incur in 2012-13. The County will not get over the 15%debt service capacity until FY 2017-18. <br /> 30 Chair Jacobs asked if there was `wiggle" room. <br /> 31 Clarence Grier said it is only assumed "wiggle" room and is contingent on the budget <br /> 32 each year. <br /> 33 Commissioner Gordon said the staff could just run the numbers to see what happens if <br /> 34 the science wing is added in. <br /> 35 Clarence Grier said if the debt were issued, it would be issued all at once. <br /> 36 Paul Laughton made reference to FY 17-18 and said the County would be over the 15% <br /> 37 by$1.2 million. If the science wing were added, it would be more than a penny on the tax rate. <br /> 38 Commissioner Gordon said the debt service capacity would only be over 15%if the <br /> 39 middle school is built as scheduled. <br /> 40 Paul Laughton said he would ask CHCCS about the two-year deferment and if it was <br /> 41 correct. <br /> 42 Commissioner Pelissier said the numbers need to be run several different ways. The <br /> 43 school boards also need to see this. <br /> 44 Commissioner Gordon said to be sure and look at the SAPFO to make sure all the <br /> 45 projects comport with that. <br /> 46 <br /> 47 At this time, John Stock, General Manager of the Triangle Sportsplex made a <br /> 48 PowerPoint presentation. <br /> 49 <br /> 50 <br />