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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. Y <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: August 20, 1996 <br /> SUBJECT: Amendment to Facilities/Services Agreement with Orange County <br /> Community Activity Corporation. <br /> DEPARTMENT: Finance PUBLIC HEARING: YES: NO: X <br /> ATTACHMENT(S) : INFORMATION CONTACT: <br /> Facilities/Services Agreement <br /> TELEPHONE NUMBER: <br /> Hillsborough-732-8181 <br /> Chapel Hill -968-4501 <br /> Mebane -227-2031 <br /> Durham -688-7331 <br /> PURPOSE: To Consider authorizing the Manager, Finance Director and County <br /> attorney to work with the Board of Directors of the Orange Community <br /> Activity Corporation (OCCAC)to provide greater flexibility for both parties <br /> within the terms of the existing Facilities/Services Agreement. <br /> BACKGROUND: The Board of County Commissioners entered into a Facilities <br /> Services Agreement with the OCCAC in March 1994. This agreement provides <br /> for the payment of $400,000 annually by the County for the availability <br /> of recreation facilities for the citizens of the County. <br /> The OCCAC has expressed interest in having a more flexible arrangement with <br /> the County as it relates to the payments by the County called for in the <br /> agreement. The Current agreement provides that the County pay the funds to <br /> the OCCAC on a monthly basis in twelve (12) equal installments. The OCCAC <br /> would like for the County to have the option of paying the funds either <br /> monthly, Bi-monthly or Quarterly. This would provide the OCCAC with greater <br /> cash flow flexibility to manage seasonal operating issues as well as the semi- <br /> annual debt payments. The County payment would not exceed $400,000 annually. <br /> In addition, a change in the timing of payments to the OCCAC would have <br /> little, if any, impact on the County's cash flow. <br />