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<br /> 1 Commissioner Jacobs said the Board of County Commissioners (BOCC) is concerned
<br /> 2 about Orange County's percentage of contribution. He said a Durham Commissioner spoke to
<br /> 3 him today about splitting it 0.5% and 1.5%, so that Durham contributors could be told that the
<br /> 4 support was going to Durham and Orange County. He said he is not sure that this will make
<br /> 5 any difference to the County's financial position, but the proposal was raised.
<br /> 6 Ted Cole said 0.5% should be somewhere between $4 and $5 million.
<br /> 7 Ted Cole said the local shares are on lines 11 and 12, and round out the total initial
<br /> 8 capital budget of$2.38 billion.
<br /> 9
<br /> 10 Financings and Total Cost- page 8
<br /> 11
<br /> 1 URI lniifiial CapiitaII and Borrowing Cost
<br /> 2 F'IA New Starts Grant- Capital and Borrowing Costs 1,23 ,E 27,397 3T53%
<br /> 3 State Funding Capital and Borrowing Cosh 24 ,026, 98 744%
<br /> 4 In Kind Contributions
<br /> 5 Orange County 3,487,758 0.11%
<br /> 6 Durham County 15,888,67 048%
<br /> 7 Joint Development Grants
<br /> 8 Orange County 11,716,747 036%7
<br /> 9 Durham County 53,376,290 1.62%
<br /> 10 I.....ocal Share - Private Capital Campai nl 18,120,000 C..) 55%
<br /> 11 Local Share - Orange County 292,663,252 8.89%
<br /> 12 I.....ocal Share - Durham County 1,41 ,790,368 4:101%7
<br /> 13 Total I_RT Initial Capital and Borrowing Cost 3,291,4 7,084 100.00%
<br /> 14
<br /> 15 •crane County ITT State of Good Repair through 2062
<br /> 16 Cash Funding 17,948,360
<br /> 17 Debt Funding 72,000,000
<br /> 18 Interest and Borrowing Costs 10,773,118
<br /> 14.E Total State of Good Repair 100,721,478
<br /> 20
<br /> 21 •crane County Financing Assumptions
<br /> 22 I.....ocally Funded I ORs Initira I.....R1 72,500,000
<br /> 23 Grant Funded LOBs- Initial I_B°f.., 55,800,000
<br /> 24 TIF'IA I...oan Initiral I.....R1` 77,400,000
<br /> 25 Locally Funded LOBs-`Mato of Good Repair 72,000,000
<br /> 26 Total Orange County Financings 2.7 7,700,000
<br /> 12 1 First $1&12 million Applied to Orange County
<br /> 13
<br /> 14 Commissioner McKee referred to line 26, and asked if this goes out to 2062, plus about
<br /> 15 $138,562,000 for the capital outlay.
<br /> 16 Ted Cole said line 26 is the total financings attributable to Orange County, which is just
<br /> 17 principle and does not include the issuance expense or the interest expense. He said to get a
<br /> 18 total one must add issuance costs and interest expense.
<br /> 19 Commissioner Price asked if there is a range of years for the issuance of this debt.
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