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3 <br /> Capital Needs Advisory Task Force <br /> Majority Report to the Board of County Commissioners <br /> May 5, 1997 <br /> Background <br /> The Board of County Commissioners adopted a funding plan for School and County capital <br /> projects in October 1996 to address future capital needs. The plan included a $40 million bond <br /> referendum. Restructuring the formula for allocating funds for Capital Improvements Plan <br /> projects allows for the additional debt service on $40 million in bonds to be paid without <br /> increasing taxes. The $40 million bond package included renovation funds, which allowed the <br /> County and the Schools to continue projects already planned in the Capital Improvements Plan. <br /> The total plan, using a combination of County funds, impact fees, State bond proceeds, and the <br /> proceeds of the $40 million bond funded the following facilities: <br /> Project Description Total Project Cost Amount from the$40 <br /> Million Bond <br /> Southem Village Elementary School $14,100,000 - <br /> East Chapel Hill High School $11,800,000 - <br /> Addition <br /> New Middle School - Chapel $22,500,000 $20,735,185 <br /> Hill/Carrboro City Schools <br /> Renovations -Chapel Hill/Carrboro $3,002,535 <br /> City Schools <br /> Elementary School -OCS $14,500,000 $7,466,297 <br /> Renovations - Orange County Schools $4,795,983 <br /> Renovations - County facilities $2,000,000 <br /> Unspecified $2,000,000 <br /> Total $40,000,000 <br /> The Board of County Commissioners appointed a 22 member advisory task force in January <br /> 1997 to review the plan and to recommend to the Board of County Commissioners elements <br /> and size of the proposed November 1997 bond referendum for Schools and County projects. <br /> The Board of County Commissioners charged the Capital Needs Advisory Task Force with the <br /> following: <br /> Schools <br /> 1. Review the needs for new schools in the ten year Capital Improvements Plan as <br /> identified by the Orange County Schools and Chapel Hill/Carrboro City Schools. <br /> 2. Familiarize itself with the current long-range school capital funding plan approved <br /> by the Board of Commissioners at the October 15, 1996, meeting. <br /> 3. Confirm the need for, and timing of, new school construction projects, considering <br /> current and projected student populations. <br /> 1 <br />