Agenda - 04-26-2005- - Laserfiche WebLink

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Capital Funding Options - SfaN Considerations Prepared for the April 20, 2005 Board of County Commissioners Work Session 10. Directions from Commissioners • Simplify current capital funding poligy • Provide additional resources for • Repair, maintenance and upkeep of existing County facilities ^ Additional County space and facilities • Funding target of 60 percent of rapital expenditures for school projects and 40 percent for county projects 11.Overlying Assumptions • Conservative estimates for safes tax growth ^ No growth in the first year of the plan (2005-06) ^ 1 percent annual growth for fiscal.years 2006-07 through 2008-09 ^ 2 percent annual growth for fiscal years 2009-10 through 2014-15 • Debt service projections include currently programmed debt only (based on BOCC endorsed October 25, 2004 Debt Issuance Schedule) • Allows for redistribution of $12,8 million from CHCCS Elementary #10 to other school and county projects expected to need additional funding in the next one to three ,years (presented at April 14, 2005 work session) ^ Examples include OCS Middle School #3, CHCCS High School #3, Senior Centers • Additional $12.8 million needed for CHCCS Elementary #10 (projected opening fiscal year 2009-'10 per most recent SAPFO membership projections) not included in debt service projections ^ To be factored into updated Debt Issuance Schedule to be presented before .tune 30, 2005 • Timing of additional debt (for example items identified in the 2005 County Space Needs Updafe) will also be considered in the updated Issuance Schedule 12. How were the construction cost estimates that were included in the 2005 Orange County Space Needs Update (presented March 31, 2005) calculated? Future construction cost estimates for the facilities outlined in fhe County Space Needs Update presented to the Board on March 31, were based on $200 per square foot.