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Agenda Attachment D - FY2019-2024 Manager Recommended Capital Investment Plan
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Agenda Attachment D - FY2019-2024 Manager Recommended Capital Investment Plan
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4/18/2019 4:11:35 PM
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4/23/2019
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Schools
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Agenda
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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 /> <br />x Economic Development – Hillsborough EDD Water and Sewer Project - $1,060,000 <br /> <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 /> <br />x 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 /> <br />x 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 /> <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 /> <br />11
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