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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 18, 2002 <br /> Action Agenda <br /> Item No. 3 <br /> SUBJECT: 2002-2012 Capital Investment Plan (CIP) <br /> DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 2002-2012 Recommended CIP Donna Dean, ext 2151 <br /> (distributed prior to work session under <br /> separate cover) TELEPHONE NUMBERS: <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Mebane 336-227-2031 <br /> PURPOSE: To receive a presentation of the recommended Capital Investment Plan for <br /> FY 2002-2012. <br /> BACKGROUND: Each year, the County Manager and staff update the County's ten-year <br /> Capital Investment Plan (CIP). The CIP is a multi-year plan that addresses County and school <br /> needs for long-lived assets. Items typically included in the CIP are construction, refurbishment, <br /> or purchases of buildings; land acquisition or improvement; and major equipment and vehicle <br /> acquisition and financing. This process offers an opportunity to review long-term capital needs <br /> and enables timely acquisition and phased financing of major assets. The 2002-2012 CIP is <br /> more comprehensive than those prepared in recent years. It incorporates not only projects to <br /> be financed through normal pay-as-you-go revenue sources, but also integrates projects to be <br /> funded fully or in part from $75 million bonds approved by voters in November 2001 and $37.7 <br /> million to be funded over the next five years through alternative financing mechanisms. <br /> Staff will provide a PowerPoint presentation on significant aspects of the proposed 2002-2012 <br /> CIP at the March 18 work session and respond to any Commissioner comments or questions. <br /> This presentation is intended to be `for information only "at this time - the Board is not expected <br /> to make any decisions on project allocations at this meeting. In view of the comprehensive <br /> nature of this CIP and the uncertain fiscal environment, the Board will likely need to consider <br /> changes to the CIP during several work sessions over the next few months before formally <br /> adopting the plan in June 2002. <br /> The Manager recommends that the Commissioners formally establish the planned public <br /> hearing date of April 2, 2002 to receive citizen comments on the CIP. <br />