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<br />support County-wide no interest loans for sewer connection. The loans will range from
<br />$3,500 to $10,000 with a 10 year repayment. Per the Community Loan terms, the loan is
<br />secured by a deed of trust and the borrowed loans will be itemized on the recipient’s
<br />annual County tax bill for the annual payment. This budget amendment provides for the
<br />transfer of these funds, and amends the following Capital Project Ordinance:
<br />
<br />
<br />Historic Rogers Road Neighborhood Infrastructure (-$200,000) - Project # 10054
<br />
<br /> Revenues for this project:
<br /> Current FY
<br />2017-18
<br />FY 2017-18
<br />Amendment
<br />FY 2017-18
<br />Revised
<br />Alternative Financing $6,492,000 ($200,000) $6,292,000
<br />Contribution from Chapel Hill $77,400 $0 $77,400
<br />Contribution from Carrboro $25,200 $0 $25,200
<br />From General Fund $77,400 $0 $77,400
<br />Total Project Funding $6,672,000 ($200,000) $6,472,000
<br />
<br />
<br /> Appropriated for this project:
<br /> Current FY
<br />2017-18
<br />FY 2017-18
<br />Amendment
<br />FY 2017-18
<br />Revised
<br />Land and Associated Costs $212,000 $0 $212,000
<br />Professional Services $780,000 $0 $780,000
<br />Construction $5,205,000 ($200,000) $5,005,000
<br />Project Management $475,000 $0 $475,000
<br />Total Costs $6,672,000 ($200,000) $6,472,000
<br />
<br />
<br />SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is
<br />applicable to these agenda items:
<br />
<br />• GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY
<br />The creation and preservation of infrastructure, policies, programs, and funding
<br />necessary for residents to provide shelter, food, clothing, and medical care for
<br />themselves and their dependents.
<br />
<br />
<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 />2017-18 budgets in the General Fund by $677,940, the County Capital Projects Fund by
<br />$920,025, the Community Spay/Neuter Fund by $2,520, the Grant Projects fund by $306,785,
<br />the Housing Voucher Fund by $280,601, the Drug Forfeiture Fund by $888,233, the Health and
<br />Dental Fund by $579,511, and the Community Loan Fund by $200,000; and decreases the FY
<br />2017-18 budgets in the E911 Fund by $44,449, the Jail Inmate Fund by $84,732, the Fire
<br />Districts Fund by $48,000, and the Vehicle Replacement Fund by $1,380,833.
<br />
<br />RECOMMENDATION(S): The Manager recommends the Board approve budget, capital, and
<br />grant project ordinance amendments for fiscal year 2017-18.
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