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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. VII-13 <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: February 16, 1993 <br /> SUBJECT: Financing Alternative for Swimming Pool Construction <br /> DEPARTMENT: Recreation and Parks PUBLIC HEARING YES: NO: XX <br /> Economic Development <br /> ATTACHMENT(S) : INFORMATION CONTACT: <br /> MaryAnne B. Moore (ext. 2664) <br /> (1) SBTDC Business Plan Summary <br /> (2) Resolution <br /> (3) Ten-Year Cash Flow Projection TELEPHONE NUMBER- <br /> Hillsborough - 732-8181 <br /> Chapel Hill - 968-4501 <br /> Mebane - 227-2031 <br /> Durham - 688-7331 <br /> PURPOSE: <br /> To report to the Board on the Business Plan developed by the Small <br /> Business and Technology Development Center (SBTDC) for the financing of <br /> the construction of a Community Activities Center in central Orange <br /> County. The Business Plan outlines a viable financing alternative for the <br /> county to use to accomplish its goal to construct a public swimming pool <br /> facility in central Orange County. In order to make this a viable plan, <br /> the banking community indicates that it needs to know the county' s intent <br /> to participate in the financing of the construction costs of the Activity <br /> Center's swimming pool. Therefore, a proposed Resolution of Intent is <br /> attached for the Board's consideration. <br /> BACKGROUND: <br /> The Board approved an initial amount of funding for the construction of a <br /> public swimming pool facility in the county's 1992-1997 Capital <br /> Improvements Plan. During the CIP discussions last year, the Board <br /> indicated interest in possibly financing the construction of the pool at <br /> the proposed Triangle Community Activities Center. The level of financial <br /> commitment discussed at that time was $400, 000 per year for ten years <br /> through annual lease payments. The Board expressed that it was not <br /> interested in operating the pool. <br /> For the last several months, the Small Business and Technology Development <br /> Center - UNC (SBTDC) has been developing a Business Plan for the proposed <br /> Triangle Community Activity Center (TCAC) . The staff of the Recreation <br /> and Parks Department and the Economic Development Commission have worked <br /> with the SBTDC in the development of this Business Plan and will present <br /> an overview of the Plan for your consideration. <br />