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2 <br /> awarded in May of 2017, construction would commence in June of 2017, and the project would <br /> be completed in the summer of 2018. <br /> The County, acting as the fiscal agent for the project, has budgeted for the total cost of the <br /> project in the Capital Investment Plan. The project would be debt financed. Under the terms of <br /> the Interlocal agreement, the Towns would pay their share of the debt service over time <br /> including both principal and interest. The payments will continue until the County's debt <br /> obligations have been satisfied. <br /> FINANCIAL IMPACT: The Interlocal Agreement provides for the reimbursement of costs <br /> related to investments in the Rogers Road neighborhood. This is consistent with the Adopted <br /> Capital Investment Plan. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to <br /> this agenda item: <br /> • GOAL: ESTABLISH SUSTAINABLE AND EQUITABLE LAND-USE AND <br /> ENVIRONMENTAL POLICIES <br /> The fair treatment and meaningful involvement of people of all races, cultures, incomes <br /> and educational levels with respect to the development and enforcement of <br /> environmental laws, regulations, policies, and decisions. Fair treatment means that no <br /> group of people should bear a disproportionate share of the negative environmental <br /> consequences resulting from industrial, governmental and commercial operations or <br /> policies. <br /> • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br /> The creation and preservation of infrastructure, policies, programs and funding necessary <br /> for residents to provide shelter, food, clothing and medical care for themselves and their <br /> dependents. <br /> RECOMMENDATION(S): The Manager recommends that the Board approve and authorize the <br /> County Manager to execute an Interlocal agreement between Orange County and the Towns of <br /> Carrboro and Chapel Hill for the reimbursement of costs related to investments in the Rogers <br /> Road Neighborhood upon final review by the County Attorney. <br />