Agenda - 01-29-2008-2 - Laserfiche WebLink

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Remaining Decision Points and Timelines for Local Revenue Options The following items remain for the Board to decide with regard to the Local Revenue Options: Use of New Revenues - While counties are not restricted with regard to the use of the new local revenues and the ballot language cannot stipulate uses of the new revenues, the Board may wish to state their intent to designate the proceeds from the new revenues for specific purposes. 4 Which Tax(es) to Include on the Ballot - As stated 'earlier in this agenda abstract, the Board has the discretion to put the land transfer tax, the 1/-cent sales tax or both of the new revenue referenda on the ballot. Per information from the Orange County Board of Elections, the deadline for Commissioners to notify the Board of Elections of their intent to seek voter approval of the local revenue options is February 29, 2008. The Board plans to conduct a public hearing on February 5, 2008 in order to seek public input regarding the Local Revenue Options. Following the public hearing, Commissioners will have the opportunity at the February 7 and 12 work sessions to discuss the options further and at the February 19, 2008 regular meeting to make final decisions regarding the use of the new revenues and which tax(es) to include on the ballot. FINANCIAL IMPACT: During the work session, Budget Director Donna Coffey plans to share alternatives for use of the proposed Local Revenue Options. For details on individual County and Schools funded projects, refer to the on-line version of the proposed FY 2008-18 County and Schools Capital Investment Plan (CIP) (http://www.co.orange.nc.us/budget/2008-18CIP- ManagerRecommended.asp). RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners discuss the Recommended FY 2008-18 Capital Investment Plan and Local Revenue Options and provide direction to staff.