Minutes 10-13-2015 - Laserfiche WebLink

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Paul Laughton said yes, it is listed annually as part of the schools' Capital Investment Plan (CIP) in March. Paul Laughton referred to the second table for economic development usages. He said the largest initiative is the debt service on the infrastructure. He said the debt service is 60 percent of the portion of economic development funds that are brought in. Paul Laughton said there was one other section within the economic development funds. He said this is an undesignated section, with two allocations for economic development utility extension projects. He said no specific projects have been currently identified for utility extensions. He said these funds are budgeted, but not yet committed. Chair McKee asked if the sewer line collapse project in Carrboro would fall under this category. Paul Laughton said yes, but asked Craig Benedict to elaborate. Craig Benedict, Orange County Planning Director, said this fund was more of a Morinaga-like utility extension. He said in that case there was a backbone system that was about 1,500 feet away from the project. He said funds were used to extend sewer and water to the Morinaga parcel of land. Commissioner Dorosin asked if there are restrictions on the usage of this $500,000. Craig Benedict said the parameters would most likely be a Greenfields project where existing infrastructure is identified, and the project coming forward would show a return on the investment. He said there would be agreements in place showing that if utilities were extended, there would be a party responsible for their upkeep. He said it would be evaluated on a case-by-case basis. Commissioner Dorosin asked if funds must be used for the extension of water and sewer or natural gas, or is a more broad usage permitted. Craig Benedict said under infrastructure there could be any number of possibilities, though water and sewer is typical. Bonnie Hammersley said the funding in place is a placeholder and is not designated at this time. She said it is in this account, but can be used anywhere. Commissioner Rich referenced the Ephesus Fordham project and asked if the money for it would come from Article 46 funds. Craig Benedict said no decisions would be made until the projects come forth, and the data is reviewed. He said the Board of County Commissioners would determine from where the funds would come. Commissioner Rich said there are different categories for projects in the southern and northern portions of the County. Bonnie Hammersley said when data comes back staff would present a recommendation to the BOCC regarding funding sources. She said Article 46 funds would certainly be considered as a potential funding source. She said no funds are earmarked at this time, as amounts are unknown. Paul Laughton reviewed information from Attachment B, regarding the debt service. Commissioner Burroughs asked if funds have been budgeted yearly going into the future. Paul Laughton said funds have only been budget through FY 2015-2016. Steve Brantley, Orange County Economic Development Director, presented the following PowerPoint slides: Orange County Economic Development Discussion of Article 46