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Water & Sewer Utilities Capital Projects <br />Fiscal Years 2014 -19 <br />Project Name Central Efland /North Buckhorn Sewer Expansion <br />Project Status <br />Approved <br />Functional Service Area Community and Environment <br />Starting Date <br />71112010 <br />Department Planning <br />Completion Date <br />6/30/2013 <br />Current <br />Year 1 Year 2 Year 3 <br />Year 4 Year 5 Five <br />Year 6 <br />Prior Years Fiscal Year <br />Fiscal Year Fiscal Year Fiscal Year <br />Fiscal Year Fiscal Year Year <br />to <br />Project Budqet Fundinq 2013 -14 <br />2014 -15 2015 -16 2016 -17 <br />2017 -18 2018 -19 Total <br />Year 10 <br />Professional Services <br />Land /Building <br />Construction /Repairs/Renovations <br />Equipment/Furnishings <br />Total Project Budget <br />Related Operating Costs <br />Personnel Services <br />Operations <br />New Debt Service <br />Total Operating Costs <br />Revenues/Funding Source <br />Transfers from General Fund <br />General Fund - Debt Service <br />EPA Special Appropriations Grant <br />State Revolving Loan Funds <br />Debt Financing <br />Total <br />Project DescriptionlJustification <br />34,000 <br />59,900 <br />3,700,000 <br />s 74s 4nn <br />148.7981 148.798 148.798 148.798 148.798 148.798 7 <br />93,601 - - <br />148,798 148,798 148,798 148,798 148,798 148,798 743,990 743,990 <br />1,348,400 - <br />2,351,899 <br />In the mid- 1980s, the decision was made to construct public sewer service in the Efland Community. The County's funding ran out before the entire community could be <br />served, but there were approximately 80 residents remaining who had signed up to receive sewer and never did. The Central Efland portion of this project will provide <br />sewer service availability to the majority of those properties that requested service 25 years ago, in addition to providing sewer availability to most of the rest of the Efland <br />Community. The Northern Buckhorn project will be an extension of the City of Mebane's sewer system and will serve residents in the area along Buckhorn Road between <br />the Interstate and the railroad tracks. This portion of the project is made possible by EPA Special Appropriations Grants that were earmarked by Congressman David <br />Price and applied for by the County. The vast majority of the Central Efland project will be paid for by the remainder of the EPA grant and by a DENR State Revolving <br />Loan Fund. An estimate of the debt service is shown above, based on an estimated loan amount of $2,351,899 an interest rate of 2.445% and the maximum term of 20 <br />years. The full loan amount of $3,500,000 is a maximum line of credit and was based on the original project cost estimates, but based on the project bids and current <br />costs, the loan is expected to be less than $2,400,000, as shown above. The debt service payments will be based on the actual amount borrowed. Some project <br />expenses are not reimbursable by the State Loan program or the EPA grant. These have been paid from the Efland Sewer Extension Capital Project from proceeds of <br />the 1997 bond issued to pay for the Central Efland Sewer Extension. <br />99 <br />