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ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 15, 2017 <br /> Action Agenda <br /> Item No. 2 <br /> SUBJECT: FY2017-22 Capital Investment Plan - Accept the Five Year Capital Investment <br /> Plan and Approve the Intent to Adopt Capital Funding for FY2017-18 <br /> DEPARTMENT: County Manager and Finance and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Revisions to Capital Bonnie Hammersley, (919) 245-2300 <br /> Investment Plan Projects Travis Myren, (919) 245-2308 <br /> Gary Donaldson, (919) 245-2453 <br /> Paul Laughton, (919) 245-2152 <br /> PURPOSE: FY2017-22 Capital Investment Plan - Accept the Five Year Capital Investment Plan <br /> and Approve the Intent to Adopt Capital Funding for FY2017-18. <br /> BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) <br /> that establishes a budget planning guide related to capital needs for the County as well as <br /> Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to- <br /> year changes in priorities, needs, and available resources. Approval of the CIP commits the <br /> County to the first year funding only of the capital projects; all other years are used as a <br /> planning tool and serves as a financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2017-22 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> School Projects include Chapel Hill Carrboro City Schools, Orange County Schools, and <br /> Durham Technical Community College — Orange County Campus projects. The Proprietary <br /> Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. <br /> The CIP has been prepared anticipating slow to moderate economic growth of approximately <br /> 1`)/0 in property tax growth and 4% in sales tax growth annually over the next five years. Many of <br /> the projects in the CIP will rely on debt financing to fund the projects. <br /> Attachment 1 includes revisions to the following Capital Projects since the presentation of the <br /> Manager's Recommended Capital Investment Plan on April 4, 2017: <br /> County Capital Projects: <br /> • Parking Lot Improvements <br /> • Southern Orange Campus Expansion <br /> • Information Technology Fiber Connectivity <br /> • Information Technologies Governance Council Initiatives <br />