Minutes 04-11-2013 - Laserfiche WebLink

Browse Search

- Chapel Hill-Carrboro City Schools submitted as part of their unfunded new facilities projects a Science Wing Addition at Culbreth Middle School totaling $4,971,676. The majority of construction costs would occur in FY 2014-15, with an anticipated opening date of August 2015. Currently, this project is not included in the Manager's Recommended FY 2013-18 CIP. The impact of including this project in the CIP would increase annual debt payments by a total of$477,281 ($57,600 in FY 14-15, $427,388 in FY 15-16, and $477,281 starting in FY 16-17 and future years). Commissioner Gordon said she would like to direct staff to provide the Board of County Commissioners with a funding plan for the science wing, using the timeline provided by CHCCS and add it on to the CIP. She would like to see how that affects the budget. She thinks that there is enough room in the available debt capacity, and she cited the debt capacity numbers. Commissioner Dorosin asked how much would have to be taken out of the budget to fund this. Frank Clifton said the easiest thing would be to move Lands Legacy to years 6-10. Clarence Grier said in order to assume that debt, they would have to move $7.6 million worth of projects out to accommodate this. Frank Clifton said the south library could be moved to a later date also. Commissioner Dorosin wants to know the max number that can be kept in the CIP and the number that has to be removed to accommodate this science wing. Paul Laughton said CHCCS stated that if this wing was funded, it could defer middle school #5 for two years. Frank Clifton said no projects would have to be removed, but only moved around to later years. Chair Jacobs asked Paul Laughton to include these other factors along with Commissioner Gordon's request to answer the questions tonight. He also asked that Paul Laughton address pages 101-102 regarding debt capacity that is not totally committed. Paul Laughton made reference to the last two lines on page 102 and the debt the County has now and the new debt that will be added in 2012-13. The debt service is at 13.83%. The goal is to stay below 15%. To stay at the 15%, there is $2.1 million available to incur in 2012-13. The County will not get over the 15% debt service capacity until FY 2017-18. Chair Jacobs asked if there was "wiggle" room. Clarence Grier said it is only assumed "wiggle" room and is contingent on the budget each year. Commissioner Gordon said the staff could just run the numbers to see what happens if the science wing is added in. Clarence Grier said if the debt were issued, it would be issued all at once. Paul Laughton made reference to FY 17-18 and said the County would be over the 15% by $1.2 million. If the science wing were added, it would be more than a penny on the tax rate. Commissioner Gordon said the debt service capacity would only be over 15% if the middle school is built as scheduled. Paul Laughton said he would ask CHCCS about the two-year deferment and if it was correct. Commissioner Pelissier said the numbers need to be run several different ways. The school boards also need to see this. Commissioner Gordon said to be sure and look at the SAPFO to make sure all the projects comport with that.