Agenda - 06-29-1993 - III-B - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No =--B ACTION AGENDA ITEM ABSTRACT Meeting Date: June 29, 1993 SUBJECT: Public School Building Capital Fund Application DEPARTMENT: Budget PUBLIC HEARING YES NO X ATTACHMENT(S) INFORMATION CONTACT Application: Public School Sally Kost ext . 2151 Building Capital Fund TELEPHONE NUMBER Hillsborough 732-8181 Chapel Hill 968-4501 Mebane 227-2031 Durham 688-7331 PURPOSE: To approve an application to the State Budget Office to release funds from Orange County' s Public School Building Capital Fund account for the renovation and addition to Ephesus Elementary School . BACKGROUND: As of April 30, 1993 , Orange County has accumulated a total of just under $3 . 3 million in Public School Building Capital money since the creation of this state fund in 1987 . Of this amount, the County has already drawn down approximately $2 . 8 million in funding for the New Hope Elementary School and the addition/renovation to Ephesus Elementary School . The attached application would draw down an additional $372, 366 of the remaining balance and increase the amount of the Ephesus project funding from State funds from $624 , 938 to $997, 304 . This funding approach is consistent with the 1992-97 Capital Improvements Plan approved by the Board in June, 1992 . The application process requires formal requests for funding from both the Board of County Commissioners and the Board of Education of the school system concerned. The Chapel Hill-Carrboro Board of Education approved the application at their meeting on May 3 , 1993 . RECOMMENDATION(S) : The Manager recommends that the Board of Commissioners approve the application for $997, 304 in Public School Building Capital Funds for Ephesus Elementary School, and authorize the Chair to sign the application.