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2 <br /> <br />The CIP has been prepared anticipating moderate economic growth of approximately 2% in 1 <br />property tax growth and 4% in sales tax growth annually over the next five years. Many of the 2 <br />projects in the CIP will rely on debt financing to fund the projects. 3 <br /> 4 <br />Tonight’s discussion will focus mainly on County and Proprietary CIP projects. The Durham 5 <br />Technical Community College – Orange County Campus County Health Technology Building 6 <br />project, with planning funds beginning in FY 2021-22, will also be discussed. Discussion of the 7 <br />Schools CIP projects is scheduled for the April 24, 2018 Joint County/School Boards Meeting. 8 <br />CIP document page #’s are provided after each project, with funding recommended for FY 9 <br />2018-19 within the following categories (consistent with the Manager’s CIP presentation on 10 <br />April 3, 2018): 11 <br /> 12 <br />Travis Myren made the following presentation: 13 <br /> 14 <br />ORANGE COUNTY 15 <br />CAPITAL INVESTMENT PLAN 16 <br />FY2018-23 17 <br />Board of Orange County Commissioners 18 <br />Work Session 19 <br />April 10, 2018 20 <br /> 21 <br />FY2018-20 Recommended CIP 22 <br /> 23 <br />• CIP Themes and Cost Drivers 24 <br />o School Bond Projects 25 <br /> Chapel Hill High School Cost Escalation 26 <br /> Borrowing and Cash Flow Schedule 27 <br /> Potential FY2017-18 Capital Budget Amendment 28 <br />o Affordable Housing Bond 29 <br /> Last Bond Draw of $2.5 Million 30 <br />o Public Safety 31 <br /> Detention Center & Northern Campus Development 32 <br />o Debt Service Structuring 33 <br /> Subject to Approval by the Local Government Commission 34 <br /> Debt Service to General Fund Revenue Policy 35 <br /> Potential Tax Impacts 36 <br /> 37 <br />• Questions from April 3rd Presentation 38 <br />o Project Description, Cost Explanation 39 <br /> April 24th – Joint Meeting with Schools 40 <br />o Chapel Hill-Carrboro City Schools (CHCCS) Bond Allocation ($72.1 million) 41 <br /> $5 million issued in Fall of 2017 42 <br /> $64.4 million remaining for Chapel Hill High School (FY2017-18) 43 <br /> $2.7 million remaining for issuance at later date (FY2021-22) 44 <br /> 45 <br />Chair Dorosin clarified that the schools received $5 million, and will receive $64.4 46 <br />million more, totaling $69.4 million. 47 <br />Travis Myren said some of the $5 million was used for design money for the Lincoln 48 <br />Center project, to get them up to a bid. He said that part of the project did not move forward. 49