Minutes 09-11-2014 - Laserfiche WebLink

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Commissioner Gordon said as long as interest rates remain low, they can use alternative financing instead of a bond referendum. She said this process is a balancing act. Commissioner Rich asked for clarification on the sequence of the process. Clarence Grier said staff will ask the LGC first, in order to determine how much can be approved. Chair Jacobs said he feels that the committee should decide the needs not the amount. He said if interest rates are low, the committee structure can then be used to talk about things like affordable housing. He said at least everyone can be at the table to decide a common purpose. Chair Jacobs asked Clarence Grier to do a review of the 2001 bonds, including the percentage by which they were approved; the size of the budget then; and whether they did a 7 cent increase due to bonds. He said a lot of the tax increases are due to voter approved bonds. Chair Jacobs asked Bonnie Hammersley for an agenda or timeline for a May 2016 bond, as well as an identification of what the categories would be. He would like to see this before the break in December. Chair Jacobs said in his opinion Durham Tech is not ready for County to give them money until there is a strategic plan in place for their property. He would like to see them be more coordinated. Clarence Grier said over the past year, he has had more calls about bonds from competing interests. Commissioner Gordon said the committee needs to be told the total amount of money for the bond, and then they can decide the needs. She said this will be the cleanest way to do it. Chair Jacobs asked staff for an assimilation of what was said tonight to be presented at the September 30th meeting with the school boards. He thinks the school board needs to know what the process is, and he would like to hear their priorities. A motion was made by Commissioner McKee, seconded Commissioner Rich to adjourn the meeting at 9:54 pm. VOTE: UNANIMOUS Barry Jacobs, Chair Donna Baker Clerk to the Board