Orange County NC Website
ATTACHMENT A <br />FINANCING EPHESUS FORDHAM PUBLIC IMPROVEMENTS <br />Financing Ephesus Fordham Public Improvements <br />3 <br />February 2014 <br />In order to support the renewal of the Ephesus Fordham area the Town <br />must make investments in much needed traffic and stormwater capital <br />improvements. <br />The total cost of these improvements is $10.0 million ($8.8 million for traffic improvements and <br />$1.2 million for stormwater). <br />The Town plans on issuing debt to finance the capital cost for these public improvements. The <br />most efficient and cost effective way for the Town to finance this project is to coordinate the <br />financing with other projects that can provide collateral for a combined financing. <br />Financing Plan <br />The Town is planning on financing the Town Hall <br />Renovation project and other CIP projects with debt. By <br />combining the financing of these projects using two <br />common forms of debt that the Town has used <br />numerous times, the total cost of financing all of these <br />projects will be reduced and can be completed on the <br />timetable established for the Ephesus Fordham Project. <br />The Projects <br />Town Hall Repair & Renovation <br />$ 900,000 <br />AV- <br />800,000 <br />Ephesus Fordham: <br />Traffic Improvements 8,800,000 <br />•' <br />Stormwater Capital 1,200,000 <br />i � <br />ti <br />10,000,000 <br />Total All Projects <br />S 11,700,000 <br />-1 k 1 t <br />r <br />The Projects <br />Town Hall Repair & Renovation <br />$ 900,000 <br />High Priority CIP Projects <br />800,000 <br />Ephesus Fordham: <br />Traffic Improvements 8,800,000 <br />Stormwater Capital 1,200,000 <br />Total Ef Project <br />10,000,000 <br />Total All Projects <br />S 11,700,000 <br />The Debt <br />Two - thirds General Obligation Bonds $ 1,700,000 <br />Installment Financing 10,000,000 <br />Total Planned Debt issuance S 11,700,000 <br />TOWN OF CHAPEL HILL I BUSINESS MANAGEMENT DEPARTMENT 1 <br />