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16 <br /> 1 funding only of the capital projects; all other years are used as a planning tool and serves as a <br /> 2 financial plan. <br /> 3 <br /> 4 Capital Investment Plan — Overview <br /> 5 The FY 2019-24 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> 6 School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and <br /> 7 Durham Technical Community College — Orange County Campus projects. The Proprietary <br /> 8 Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. <br /> 9 The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> 10 property tax growth and 4% in sales tax growth annually over the next five years. Many of the <br /> 11 projects in the CIP will rely on debt financing to fund the projects. <br /> 12 <br /> 13 RE: Manager's Recommended FY 2019-2024 Capital Investment Plan <br /> 14 <br /> 15 1 am pleased to submit the County Manager's Recommended Capital Investment Plan (CIP) for <br /> 16 FY 2019-24 for your consideration. The CIP serves two important functions. First, it authorizes <br /> 17 capital appropriations for the next fiscal year, but it also serves as a plan for the future. The <br /> 18 Plan contains detailed recommendations for capital projects five years into the future and more <br /> 19 general descriptions of projects proposed in the subsequent five years, projecting capital <br /> 20 spending a total of ten years into the future. These future project plans are integrated into the <br /> 21 County's debt model and budget projection model for long term financial forecasting. <br /> 22 <br /> 23 Recommended capital expenditures for FY 2019-20 total $47.4 million. Of this amount, $10.1 <br /> 24 million is recommended for County capital projects, $2.9 million is recommended for proprietary <br /> 25 fund spending including water and sewer projects, Solid Waste, and Sportsplex, and $34.4 <br /> 26 million is recommended for school capital improvements. <br /> 27 <br /> 28 The recommended FY 2019-20 CIP represents a decrease of approximately $19.3 million <br /> 29 compared to the FY2018-19 Amended CIP. The FY2018-19 amended capital budget included <br /> 30 several large projects such as the second allocation of the affordable housing bond ($2.5 <br /> 31 million), the Northern County Campus ($34.7 million), the Southern Branch Library ($5.6 <br /> 32 million), and building remediation projects ($3.5 million). <br /> 33 <br /> 34 This memorandum describes projects that are recommended in the first year of the FY2019-24 <br /> 35 CIP and other significant changes that are recommended for consideration in future years. <br /> 36 <br /> 37 Policy Priorities <br /> 38 The Board of County Commissioners adopted a variety of policy priorities in 2016 consistent <br /> 39 with existing Board goals. The CIP recommends funding associated with many of those <br /> 40 priorities as well as funding for projects that have been introduced and approved conceptually <br /> 41 as part of the Board's regular legislative process. <br /> 42 <br /> 43 County Facility Resiliency to Climate Change - $3.25 million <br /> 44 <br /> 45 During the FY2018-19 fiscal year, the County confronted several large scales, <br /> 46 emergency repairs related to water intrusions from extreme weather events. The <br /> 47 impacted facilities included the Battle Courtroom, the Government Services Annex, <br /> 48 and the Phillip Nick Waters Emergency Services Building. These repairs <br /> 49 necessitated several amendments to the FY2018-19 Capital Budget totaling $3.5 <br /> 50 million. Additional amendments are anticipated to advance the remediation of the <br />