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7 <br /> cost estimates suggest an additional $350,000 will be needed to fund the County's share of <br /> construction. This project also adds a total of $100,000 for furniture, fixtures, and <br /> equipment in both the Waterstone Station and the Buckhorn/Efland Station. <br /> • Economic Development— Hillsborough EDD Water and Sewer Project - $1,060,000 <br /> In FY2017-18, the Board authorized funding to conduct an analysis of the County's <br /> Economic Development Districts (EDD's). This report highlighted the importance of having <br /> sites that are prepared for development including the availability of water and sewer <br /> service. The County has previously appropriated over $5.5 million to build out water and <br /> sewer infrastructure in the economic development districts to stimulate commercial and <br /> industrial development and job creation. The recommended CIP for FY2019-20 adds <br /> $1,060,000 to the Hillsborough EDD project due to rising construction costs and additional <br /> rock discovered in the subsurface that was not anticipated when this project was initially <br /> budgeted. Debt service on water and sewer projects is paid using the portion of Article 46 <br /> sales tax revenue dedicated to economic development. <br /> • Orange County Southern Branch Library—$750,000 <br /> In October of 2017, the Board approved a development agreement with the Town of <br /> Carrboro to jointly develop a new facility at 203 South Greensboro Street. The facility <br /> would include space for the County's Southern Branch Library as well as Town offices. <br /> Funding for the construction phase of this project was approved in FY2018-19 at $5.6 <br /> million. The additional $750,000 recommended in FY2019-20 is intended to fund the <br /> furniture, fixtures, and equipment for the new library. The CIP also continues to recognize <br /> the additional operating expenses that will be required to operate this new branch. The net <br /> new operating costs are currently estimated at approximately $650,000 annually after <br /> deducting the operating costs associated with the two existing County funded library <br /> resources in the Town of Carrboro. <br /> • School Capital Improvements - $34.4 million <br /> The recommended CIP includes a total of $34,377,500 to finance a variety of school capital <br /> improvements and deferred maintenance. <br /> This total amount includes approximately $20 million in general obligation bond funds for <br /> Orange County Schools. This $20 million project will include the construction of a classroom <br /> wing at Cedar Ridge High School, roofing projects, and mechanical system replacements at <br /> several schools. This allocation to Orange County Schools represents the second of three <br /> bond fund allocations for Orange County Schools. The third installment for both Orange <br /> County Schools and Chapel Hill Carrboro City Schools is scheduled to occur in FY2021-22. <br /> This allocation will total approximately $14.5 million and will exhaust the $120 million in <br /> bond funds approved by voters in 2016. <br /> Page 1 5 <br />