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t <br /> x <br /> 4 <br /> The second Task Force meeting on December 2nd divided members into groups to <br /> address funding issues: (1)funding sources and (2)phasing in the building and renovation <br /> of the Senior Center facilities. The Senior Centers Plan cost estimates of $6,815,000 <br /> were reviewed with members. The primary funding sources identified were the towns, the <br /> university, state grants, corporations, sales tax, foundations, and a county bond. It was <br /> felt that the large facilities were more appropriately funded with a county bond similiar to <br /> other North Carolina counties like New Hanover and Lee. Community support such as a <br /> "Friends of the Hillsborough Senior Center" or individual memorials, wills, annuities or <br /> in-kind gifts such as donated land, especially in Hillsborough were mentioned. Members <br /> also pointed out the need for adequate staffing for senior centers and specific activities. It <br /> was felt that Friends organizations would be a good resource for operations and staffing <br /> assistance. <br /> The Task Force was in agreement that the Senior Centers Plan should be funded in its <br /> entirety, but phased in according to facility priority,type of project,funding source <br /> and amount. In reviewing each senior center project, the following funding plan chart <br /> was developed. <br /> Chart: Senior Centers Development Funding Plan <br /> Facility Completion Project <br /> Priority Project Tyne Cost Estimate Date Duration Funding Tv ►pe/Amt <br /> 1.Hillsborough Construction $2,025,000 Dec.,1999 36 mos Co. Bond-100% <br /> . Sr. Center - 15,000 sq.ft <br /> 2. Chapel Hill Purchase- $3,000,000 Dec.,1998 24 mos Co. Bond-80% <br /> Sr . Center 30,000 sq.ft. Chapel Hill-20% <br /> 3. Northern Renovation/ $ 20,000 June,1998 18 mos Sales tax-1001/6 <br /> Orange Center Add Deck <br /> 4. Southern/ Renovation $ 20,000 Dec.,1998 24 mos Sales tax-100% <br /> Northside Ctr, <br /> 5. Efland - Addition- $ 112,500 Dec.,2000 48 mos Sales tax-100% <br /> Cheeks Center 1,500 sq.ft <br /> 6. Carrboro Construction $ 750,000 Dec.,2000 48 mos Co. Bond-80% <br /> Sr. Center - 6,000 sq.ft. Carrboro-20% <br /> Thus, the larger construction or purchase facility projects in the Senior Centers <br /> Development Plan should be financed,from a county bond and town funds. The smaller <br /> renovation or addition projects should be financed through the CIP from sales taxes. <br /> It hoped this funding plan will provide direction in reaching a decision on the Senior <br /> Centers Development Plan. <br /> Page 2 of 2 <br />