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Orange County Southern Branch Library
<br />Project Category:County Capital Project Status:Active Project Type
<br />Functional Service
<br />Area:Support Services
<br />Proposed Bid
<br />Award Date:TBD New
<br />X
<br />Department:Asset Management
<br />Services Starting Date:7/1/18 Expansion
<br />Project Number:10050 Completion Date:6/30/21 Renovation
<br />Replacement
<br />Project Description/Justification:In October 2017, the County entered into a
<br />development agreement with the Town of Carrboro to collaborate on a building
<br />project at 203 S Greensboro Street that would house the Orange County
<br />Southern Branch Library and Town of Carrboro offices. Funding for construction
<br />was approved in FY2018-19. The FY 2019-20 CIP requests $750,000 for
<br />associated equipment and furnishings costs. This location will replace the
<br />Cybrary and McDougle facilities.
<br />FINANCIAL SUMMARY
<br />Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6
<br />Prior Years Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to
<br />Project Budget Funding 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Total Year 10
<br />Expenses
<br /> Land/Building --
<br /> Professional Services 1,172,500 -
<br /> Construction/Repairs/Renovations 5,625,000 --
<br /> Equipment/Furnishings 750,000 750,000
<br /> Total Project Budget 1,172,500 5,625,000 750,000 - - - - 750,000 -
<br />Funding Sources
<br /> Transfer from General Fund --
<br /> Available Project Balances 264,000 -
<br /> Debt Financing 908,500 5,625,000 750,000 - - 750,000
<br /> Total 1,172,500 5,625,000 750,000 - - - - 750,000 -
<br />Impact on Operating Budget
<br /> Personnel Services 406,765 541,054 514,054 514,054 514,054 2,489,981 2,570,270
<br /> Operations 82,500 145,000 145,000 145,000 145,000 662,500 725,000
<br /> Recurring Capital --
<br /> New/Add'l Revenue -
<br /> Total Operating Costs -489,265 686,054 659,054 659,054 659,054 3,152,481 3,295,270
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