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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No VM_M <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 6, 1994 <br /> SUBJECT: Public School Building <br /> Fund Application <br /> -------------------------------- ------------------------------- <br /> DEPARTMENT Budget Office PUBLIC HEARING YES NO z <br /> -------------------------------- ------------------------------- <br /> ATTACHMENT(S) : INFORMATION CONTACT <br /> Budget Office, ext. 2151 <br /> Public School Building Capital Fund <br /> Application TELEPHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> ----------------------------------------------------------------------- <br /> PURPOSE: To approve an application to the State Budget Office to <br /> release funds from Orange County's Public School Building Capital Fund <br /> account for the renovation project at Chapel Hill High School. <br /> BACKGROUND: As of May 20, 1994, Orange County has accumulated a total <br /> of just under $3.6 million in Public School Building Capital money <br /> since the creation of this state fund in 1987 . Of this amount, the <br /> County has already drawn down approximately $3.2 million in funding for <br /> the New Hope Elementary School and the addition/renovation project at <br /> Ephesus Elementary School. The attached application would draw down an <br /> additional $381,190 of the remaining balance. The remaining balance of <br /> the funds available to Orange county will be about $100,000. This <br /> funding approach is consistent with the 1993-98 Capital Improvements <br /> Plan approved by the Board in June, 1993. <br /> The application process requires formal requests for funding from both <br /> the Board of County Commissioners and the Board of Education of the <br /> school system concerned. The Chapel Hill-Carrboro Board of Education <br /> approved the application at their meeting on May 2, 1994. <br /> RECOMMENDATION: The Manager recommends that the Board of Commissioners <br /> approve the application for $381,190 in Public School Building Capital <br /> Funds for the Chapel Hill-High School renovation project and authorize <br /> the Chair to sign the application. <br />