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5 <br /> 2. Discussion of Manager's Recommended FY 2019-24 Capital Investment Plan (CIP) <br /> BACKGROUND: <br /> Each year, the County produces a Capital Investment Plan (CIP) that establishes a budget- <br /> planning guide related to capital needs for the County as well as Schools. The current CIP <br /> consists of a 5-year plan that is evaluated annually to include year-to-year changes in priorities, <br /> needs, and available resources. Approval of the CIP commits the County to the first year <br /> funding only of the capital projects; all other years are used as a planning tool and serves as a <br /> financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2019-24 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and <br /> Durham Technical Community College — Orange County Campus projects. The Proprietary <br /> Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. <br /> The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> property tax growth and 4% in sales tax growth annually over the next five years. Many of the <br /> projects in the CIP will rely on debt financing to fund the projects. <br /> Tonight's discussion will focus on County and Proprietary CIP projects. See Attachment A for <br /> the Overall CIP Summary, County CIP Projects Summary, and the Proprietary CIP Summaries. <br /> Discussion of the Schools CIP projects is scheduled for the April 23, 2019 Joint County/School <br /> Boards Meeting. Durham Technical Community College — Orange County Campus new <br /> academic building project will also be discussed at the April 23rd meeting. <br /> Discussion will also be directed to recommended Future Capital Projects in Years 2-5 of the CIP <br /> (FY 2020-21 through FY 2023-24); discussion and review of the Debt Service and Debt <br /> Capacity— General Fund (page 200), the Water and Sewer Debt Service requirements paid with <br /> Article 46 Quarter Cent Sales Tax proceeds (page 201), and Debt Service requirements for <br /> Solid Waste (page 202) and Sportsplex (page 203). <br /> FINANCIAL IMPACT: There is no immediate financial impact associated with discussion of the <br /> FY 2019-24 Capital Investment Plan. It is a long-range financial planning tool with a financial <br /> impact in FY 2019-20, if the first year of the CIP is approved by the Board of County <br /> Commissioners with the adoption of the Annual Budget. <br /> Travis Myren made the following PowerPoint presentation: <br /> ORANGE COUNTY <br /> CAPITAL INVESTMENT PLAN FY2019-24 <br /> Board of Orange County Commissioners <br /> Work Session <br /> April 9, 2019 <br /> • Capital Investment Plan Review Schedule <br /> o County Project Discussion —April 9 <br /> ■ County Capital Projects <br /> ■ Proprietary Funds Projects <br /> o Education Capital Discussion —April 23 Joint Meeting <br /> ■ Chapel Hill-Carrboro City Schools <br /> • Orange County Schools <br />