Minutes 01-31-2014 - Laserfiche WebLink

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Michael Talbert said the short answer is "yes". The managers are working on a plan, as instructed by the task force, on how to make this happen and how to make this work. He believes the County and Chapel Hill are on board with funding 43% shares (Carrboro's share would be 14%) and with moving forward on at least initial planning for sewer, including engineering. He sees longer term CIP funding — not next year, but maybe two years out—for funding for actual construction. Commissioner Dorosin inquired do they have resources to start or would there need to be adjustments to this CIP. Michael Talbert said funding would be in the general CIP. They would have to evaluate resources and priorities. They have the money to do the planning stages. In two years, though, if the Towns don't go along, the County could not come up with $7-8 million without cutting something back. Those discussions have not yet occurred, however. In response to a comment by Chair Jacobs, Paul Laughton confirmed that today's agenda item is just for 2014-15 projects because that's what the Board concentrates on approving funding for next year's CIP. The remainder of the CIP is for long range forecasting and planning that you evaluate every year. He will bring to the Board's attention any deviations from planned funding in the out years when they present the CIP on March 11. Rod Visser tested the assumption that this session is an opportunity for Commissioners to give the Manager and staff a "heads up" now regarding any changes in the CIP they would like to see, but that does not forestall their bringing up other changes that occur to them six weeks from now in March. Michael Talbert said he saw two issues on their list of possible budget goals that have potentially large capital impacts: education and Rogers Road sewer. Commissioner Price asked about the confidence level staff has in projections of lottery proceeds. Paul Laughton said that they provide to the schools the estimates that they receive from the State. He noted that the State used to provide counties with $176 million in annual lottery proceeds but that number is now down to $100 million. Orange County is only getting about $1.3 million in lottery funds now. At peak, he believed the County received about $2.3 million in lottery funds. Commissioners and Manager indicated that they were satisfied that they had met the objective set out for the CIP portion of the agenda. D. Bond Referendum - Debt Capacity, Property Tax Impact, Bond Rating (Clarence Grier— Presenter& Rod Visser) Rod Visser explained that the objective for this segment is for the Board to review possible Bond Referendum timelines, amount of a referendum, and the Board practice of utilizing bond task forces, and provide direction to staff. Clarence Grier reviewed possible options/funding/debt service for a possible $100 million bond referendum, to be held at the Board's discretion. Key figures are included in the spreadsheet on page 13, Attachment 1-c, of the Board's retreat agenda packet.