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4 <br />MEMORANDUM <br />TO: Chapel Hill/Orange County Project Planning Committee (PPC) <br />FROM: Bill Webster, Assistant Director ofParks and Recreation <br />SUBJECT: Report on Options for Use of Orange County Bond Funds Designated for Chapel Hill <br />DATE: May 19, 2004 <br />This memorandum addresses options for use of $1,000,000 in Orange County bond funds designated for <br />greenways in Chapel Hill.. At the Apri] 8, 2004 PPC meeting the Committee asked for additional <br />information including: <br />• Financial information <br />• Report on feasibility of vazious projects including preliminary cost estimates <br />• A discussion of steps needed to implement projects <br />• Maps showing potential projects <br />FINANCE INFORMATION <br />The financial situation is somewhat complicated by the diversity of funding that is potentially available <br />for various greenway projects. To address this issue we have provided the relevant financial information <br />in two different formats: <br />GREENWAYS FINANCES BY SOURCE OF FUNDS <br />The following potential sources of funds maybe available for greenways projects: <br />Orange County Bonds (2001) $1,000,000 <br />• Not designated at this time <br />Chapel Hill Bonds (2003)' $5,000,000 <br />2004 Bond Sale ($300,000) <br />$100,000 to begin design of Bolin Creek Trail (upstreazn of Airport Road) <br />$75,000 to continue design work on Morgan Creek Trail (Merritt Pasture to Cazrboro <br />Town line) <br />$125,000 to complete some trail work and installation of pedestrian bicycle bridge over <br />Dry Creek <br />2006 Bond Sale ($4,400,000) z <br />$16,000 to match Metropolitan Platming Organization Direct Allocation (MPO DA) funds <br />for design of the Dry Creek Trail from Perry Creek Road to Eastowne. <br />$2,160,000 to match MPO DA funds for construction of the Morgan Creek Trail. This <br />amount provides the $180,000 required for the match plus an additional $1,980,000 for <br />trail construction. <br />