Agenda - 05-15-2007-6b - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: May 15, 2007 Action Agen~d Item No. cy SUBJECT: Allocation of 2001 County Parks Bond Funds to Southern Community Park DEPARTMENT: ERCD, R&P, Finance PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: Letter from Chapel Hill Mayor David Stancil, 245-2590 Expenditures to Date for Southern Park Lori Taft, 245-2660 Southern Park Master Plan Map Ken Chavious, 245-2450 PURPOSE: To consider appropriating $925,000 from the 2001 County Parks and Open Space Bond to the Town of Chapel Hill's Southern Community Park. BACKGROUND: In November 2001, Orange County voters approved a Parks and Open Space Bond, which included $13 million for park facilities. $2.0 million of this amount was allocated to the Town of Chapel Hill's Southern Community Park. Southern Park is located south of Chapel Hill along US 15/501. An additional $1.0 million was allocated for Town of Chapel Hill greenways (subsequently determined for Phase III of Bolin Creek Greenway). In addition to this funding, the 1997 County Parks and Open Space Bond appropriated $1.0 million toward this park, for a total of $3.0 million from County bond funds for Southern Park. In recent months, the Town and its consultant have completed design work and moved into the construction phase for this park, which features three soccer fields, trails, a dog park, and other amenities. The rising price of construction over the past six years has contributed to a construction bid that exceeds available resources. On April 30, a letter from Chapel Hill Mayor Kevin Foy (attached) was received that noted the discrepancy between available County and Town revenues and the projected expenditures. Based on the construction bids received, the Town expects the cost for construction of the entire park to be approximately $6.0 million. The letter requests that the County reallocate the remainder of the $1.0 million designated for Bolin Creek Greenway, Phase III (approximately $925,000) from the County's 2001 Parks and Open Space Bond to the Southern Park project, to help address the gap between revenues and expenditures. Even with this reallocation of funds, the Town will still be short of needed monies for the park.