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2 <br /> In the 1993-98 Capital Improvement Plan, $75 , 000 was budgeted for <br /> a Utility Extension Fund. <br /> Hancor, Incorporated' s tax bill in 1993 was $2 , 626 . 70; the 1994 <br /> tax bill, reflecting the expansion, is projected to be $30, 534 . 63; <br /> the 1995 tax bill is projected to be $30,381 . 72 . The two year <br /> projected increase in tax revenue to Orange County would be <br /> $55 , 662 . 41 . <br /> Recommendation: That the Board of County Commissioners allocate a <br /> portion of the Utility Extension Fund during the next two fiscal <br /> years to re-imburse Hancor Inc . for half of the actual <br /> construction cost of the sewer line -- half would be $38,427 . 50; <br /> total design and construction cost was $76, 855 . 00 . Re-imbursement <br /> during fiscal years 1993 794 and 1994-95 would be $19,213 .75 per <br /> year. Based on the current Water and Sewer Policy, Orange County <br /> has the option to contribute funds for utility extension in the <br /> amount equal to five years increased tax revenue caused by the <br /> project. In this case, the payback for the funds allocated <br /> through the Utility Extension Fund would occur in less than two <br /> years . <br />