Agenda - 09-01-2015 - 6a - Laserfiche WebLink

Browse Search

19 1 Commissioner Rich said she would like further discussion about where the Article 46 2 quarter-cent Sales Tax proceeds are going, noting that all of it seems to be going to the water 3 and sewer projects in the County. 4 Paul Laughton said 60 percent ($800,000) is set aside for debt service, leaving 40 5 percent of the Economic Development funds available. 6 Commissioner Rich asked the Chair if the discussion regarding the Article 46 quarter- 7 cent Sales Tax proceeds and how they are used could be furthered at another meeting. 8 Chair McKee said he thought this would be possible during the budget discussions and 9 if not, certainly in the early meetings of September. 10 Commissioner Dorosin said the numbers from November 2014 are different than those 11 in this evening's abstract, specifically regarding the Eubanks SWCC. 12 Paul Laughton said there have been on-going changes, looking at the re-design of the 13 road entry and moving the scale house. He said this has increased the cost of the upfitting of 14 the Eubanks SWCC. He said the current estimate for this project is $3.175 million. He said 15 there was $3 million financed for Convenience Centers a few years ago. He said Walnut Grove 16 SWCC was completed for approximately $1.3 million, leaving $1.7 million for the Eubanks Road 17 SWCC. He said the other main differences in numbers relate to the Southern Human Services 18 Center expansion and to IT and the central permitting project. 19 Commissioner Dorosin asked if the Board proceeds tonight is there any flexibility in the 20 future. He said the challenge for him is there seemed to be a disconnect between items being 21 discussed in the abstract and the time for their approval. He said there should be opportunities 22 to discuss items again in case changes have occurred in the meantime. 23 Bonnie Hammersley said a vertical look at the CIP would be helpful. She said she will 24 do a better job of informing them of any changes as they occur in between meetings. 25 Bob Jessup, Bond Counsel, said when the financing process is complete, the Board will 26 have a list of projects in estimated amounts. He said the Board cannot use the funding for 27 anything outside of this list. He added that the Board can move the funding between the 28 projects on the list, or reallocate funds to other projects on the list. 29 Commissioner Jacobs said Gayle Wilson sent the Board an email about the Eubanks 30 SWCC. He added that the Solid Waste Advisory Board (SWAB) had also sent an email stating 31 that the construction at the Eubanks SWCC starts in July. He said he wanted to make sure the 32 Board sees the design of the site before going forward. 33 Commissioner Jacobs said another document is the Distribution of Funds document that 34 the Board received after the passing of the '/4 cents sales tax. He said he would like to see this 35 document reintroduced to the Board. He would also like to see a cost analysis of these funds. 36 Commissioner Jacobs said he is not keen on giving money to other governments but he 37 would like to help the Town of Hillsborough with the Colonial Inn. He asked if this may be an 38 investment opportunity for Economic Development funds. He said he would like to hear input 39 from the Local Government Commission (LGC). 40 41 A motion was made by Commissioner Jacobs, seconded by Commissioner Rich for the 42 Board to approve the Final Financing Resolution Authorizing the Issuance of$15,870,000 in 43 Installment Financing for Various Capital Investment Plan Projects and Equipment, and the 44 Refinancing of Approximately $10,200,000 from Two 2006 Installment Financing Issuances. 45 46 VOTE: UNANIMOUS 47 48 8. Reports-NONE 49 50 9. County Manager's Report