Orange County NC Website
6 <br /> 15.Orange County has received notification of a grant award of $32,500 from the North <br /> Carolina Department of Agriculture and Consumer Services via the Agriculture <br /> Development and Farmland Preservation Trust Fund (ADFP), as well as the receipt of <br /> matching funds of $32,500 from Weaver Street Market of Hillsborough, to establish an <br /> Orange County CROP Fund. The intent of the $55,000 revolving fund is to support the <br /> purchase of NC Grown products to be used by clients of the Piedmont Food & <br /> Agricultural Processing Center (PFAP) in Hillsborough, NC. PFAP clients will be able to <br /> apply for loans for purchase of NC grown farm products and services and defer <br /> repayment to the CROP Fund for up to a year as they receive revenue from the sale of <br /> their value-added products. This budget amendment provides for the acceptance of <br /> these grant and matching funds totaling $55,000, and establishes a new Orange County <br /> CROP Fund for the County to administer this revolving fund. (See Attachment 1, <br /> column 13) <br /> Sportsplex <br /> 15.Included in the FY 2015-16 Approved Capital Investment Plan, were funds of <br /> $2,800,000 for the construction of the Field House complex at the Sportsplex. These <br /> funds were budgeted in the annual Sportsplex Enterprise Fund in FY 2015-16, but funds <br /> were not spent or encumbered during that fiscal year so the budgeted funds lapsed at <br /> year-end. This project was included in a recent installment financing which closed on <br /> June 13, 2017. This budget amendment provides for the acceptance of the financing <br /> proceeds for this project and the re-budgeting of these funds in FY 2016-17 within the <br /> Sportsplex Enterprise Fund. (See Attachment 1, column 14) <br /> FINANCIAL IMPACT: Financial impacts are included in the background information above. <br /> This budget amendment provides for the receipt of these additional funds and increases the FY <br /> 2016-17 General Fund budget by $123,505 the Visitors' Bureau Fund by $250, the Housing <br /> Fund by $55,853, the Community Development Fund by $9,023, the County Capital Fund by <br /> $20,000, the Orange County CROP Fund by $55,000, and the Sportsplex Enterprise Fund by <br /> $2,800,000. <br /> RECOMMENDATION(S): The Manager recommends the Board of County Commissioners <br /> approve budget, grant and capital project ordinance amendments for fiscal year 2016-17. <br />