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<br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br /> <br />ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 12, 2018 <br /> Action Agenda <br /> Item No. 2 <br /> <br />SUBJECT: Discussion and Decisions of FY2018-19 Capital Investment Plan <br /> <br />DEPARTMENT: County Manager and Finance and Administrative Services <br /> <br />ATTACHMENT(S): <br />A. Revisions to Capital Investment Plan <br />Projects <br />B. FY2018-23 Capital Investment Plan <br />Budget Amendment List <br /> (To be provided at the meeting) <br /> <br />INFORMATION CONTACT: <br />Bonnie Hammersley, (919) 245-2300 <br />Travis Myren, (919) 245-2308 <br />Gary Donaldson, (919) 245-2453 <br />Paul Laughton, (919) 245-2152 <br /> <br /> <br />PURPOSE: FY2018-23 Capital Investment Plan - Accept the Five Year Capital Investment Plan <br />and Approve the Intent to Adopt Capital Funding for FY2018-19. <br /> <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 /> <br />Capital Investment Plan – Overview <br />The FY 2018-23 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 /> <br />The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br />property tax growth and 4% in sales tax growth annually over the next five years. Many of the <br />projects in the CIP will rely on debt financing to fund the projects. <br />Attachment A includes revisions to the following Capital Projects since the presentation of the <br />Manager’s Recommended Capital Investment Plan on April 3, 2018: <br /> <br />County Projects: <br />• On April 3, 2018, the Board of County Commissioners approved the acquisition of <br />approximately 21 acres located within the Hillsborough Highway 70/Cornelius Street <br />corridor, known as the “Hwy 70 Site Assembly” for the development of an Orange County <br />Northern Campus site to include the Detention Center, Environment and Agriculture <br />Center, and the Parks Operations Base. At the April 3, 2018 CIP presentation, these <br />three projects were presented as separate projects. See Attachment A for a Revised