Agenda - 05-15-2014 - 4 - Laserfiche WebLink

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P� Schools. The current CIP consists of a 5 -year plan that is evaluated annually to include year -to- year changes in priorities, needs, and available resources. Approval of the CIP commits the County to the first year funding only of the capital projects; all other years are used as a planning tool and serves as a financial plan. The FY 2014 -19 CIP includes County Projects, School Projects, Proprietary Projects, and Special Revenue Projects. The Proprietary Projects include Water and Sewer, Solid Waste Enterprise Fund, and SportsPlex projects. The Special Revenue Projects include Economic Development and School related projects funded from the Article 46 (1/4 cent) Sales Tax proceeds. The Article 46 Sales Tax was approved by voters in the November 2011 election, and became effective April 1, 2012. The CIP has been prepared anticipating continued slow economic growth of between 1 -2% annually over the next five years. Many of the projects in the CIP will rely on debt financing to fund the projects. The Manager's Recommended FY 2014 -19 Capital Investment Plan was presented to the Board of County Commissioners on March 11, 2014, and follow -up discussion occurred as part of the April 10, 2014 work session. The following items were discussed at the April 10th meeting, and possible project funding scenarios are provided (changes are highlighted in yellow) for discussion at tonight's meeting: • Attachment A reflects a revised scenario of the Blackwood Farm Park project to remove funding for a new Agricultural, Environment, and Parks Center at Blackwood Farm Park in Years 6 -10, and reflects the construction of a Parks Operations Base only in Years 6- 10, at a total cost of approximately $1,218,200. This revised scenario reduces the debt service by approximately $459,000 per year beginning in Year 7. • Attachment 8 reflects a revised scenario of an adaptive re -use or deconstruction /new construction of the current Environment and Agricultural Center (EAC) on Revere Road in Year 4 (FY 2017 -18) at a total cost of approximately $3,383,600. This revised scenario increases the debt service by approximately $187,000 per year beginning in Year 5. • Attachment C reflects a revised scenario of the Proposed Jail project with a phased in construction approach in Year 4 of a Central Core and housing space for the County needs (141 inmates), as well as housing Federal inmates (75 inmates), for a total capacity of 216 beds. The total cost is approximately $26,580,000. This revised scenario decreases the debt service by approximately $328,320 per year beginning in Year 5. Additional future expansion, reflected on the Facility Expansion Concept illustration as two (2) additional housing unit segments, could be accommodated at a cost of approximately $100,000 per bed, but this is anticipated to be beyond the current 10 -year CIP timeframe. • Attachment D reflects the updated County Debt Service and Debt Capacity tables based on the above revised scenarios. Based on these scenarios, the County's annual debt service as a percent of the General Fund budget would remain under the 15% capacity through the five -year CIP period. • Attachment E reflects updated SportsPlex project pages showing the Debt Service impact of the major expansion projects.