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14 <br /> Description of the Projects: <br /> • Major renovations include Cameron Park ($270,000), electrical upgrades <br /> ($450,000), Orange High School ($725,000), kitchen improvements ($405,000) and <br /> maintenance ship ($155,000) <br /> Note: Of the $28.3 million available to the OCS over the 10 year planning period, nearly <br /> $12.6 million is earmarked for a new high school. This money could be used in one of two <br /> ways: <br /> (1) Pay-as-you-go <br /> Based on the schedule submitted by the Orange County Schools, if CIP funds <br /> were used to pay for half the construction costs directly with the other half <br /> paid by general obligation bonds, the full $12.5 million would not be available <br /> until the year 2006-07. <br /> (2) To pay debt service on a private placement financing plan <br /> Under one scenario presented by the Orange County Schools, the County could <br /> borrow an additional $12.5 million for the facility through a private placement <br /> financing plan (which does not require a vote of the people) and combine these <br /> funds with $12.5 million in general obligation bonds (requires a vote of the <br /> people). The debt service amount would then be paid from CIP funds. (See <br /> previous green sheet handed out at the 3124197 meeting for the impact on the <br /> Orange County Schools CIP.) Note this type arrangement can legally done, but <br /> that it must be approved by the Local Government Commission. <br /> Parks and Recreation <br /> 7. Efland Cheeks Community School Park $400, <br /> • Existing small community center adjacent to Efland Cheeks Elementary School <br /> • Proposed park is on 16+ acres <br /> • Includes new playground equipment, picnic shelter and outdoor classroom, nature <br /> interpretive trail and lecture station, multi-purpose field, walking/fitness trail, upgraded <br /> basketball court <br /> 8. Fairview Community Park $700,000 <br /> • Existing 42 acre tract <br /> • Present park includes a playground and picnic area <br /> • Possible joint venture to develop this park with picnic shelters, soccer fields, softball fields <br /> and other amenities. <br /> 9. Northern Orange Human Services Center $500,000 <br /> (building renovations not included here) <br /> • Existing 8 acre tract includes softball field and playground area <br /> • 20 acre expansion to develop a community park to increase the active recreation areas and <br /> add restrooms, picnic areas, parking and septic system. <br /> 12 <br />