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REVISED 6/22/04 <br />Fallowing the public comment period, the Board will be asked to discuss and decide matters <br />associated with purchase of the site as may be appropriate. If the Board approves the site <br />location and the purchase and sale agreement, it will be forwarded to the Durham Tech Board <br />of Trustees and the State Board of Community Colleges for their approvals. <br />FINANCIAL IMPACT: Funds to support the $4 million County match, that will include the cost <br />of land as well as a portion of the construction cost, will be funded through alterative financing <br />methods such as Certificates of Participation (COPs) or private placement loans. The County <br />will obtain funds at intervals appropriate to the stage of construction to completely fund the <br />County's share of the project. <br />21 <br />RECOMMENDATION(S): The Manager recommends that the Board receive public comment, <br />and assuming the Board supports the Waterstone site, and contingent upon attorney and staff <br />review, authorize the execution of the purchase and sale agreement on or before 5pm June 30, <br />2004; and forward it to the parties as previously mentioned. <br />