Agenda - 04-16-2001-3 - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: April 1 fi, 2001 Action Agenda Item No. 3 SUBJECT: Interim Ca ital Investment Plan CIP DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: John Link, extension 2300 Donna Dean, 245-2151 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 33G-227-2031 PURPOSE: To review a proposal far an interim Capital Investment Plan (CIP) for the upcoming 2001-02 fiscal year that includes County and School pay-as-you-go projects. BACKGROUND: Over the past year, the Board has appointed several task forces to address various County capital needs including public building needs (such as justice facilities, senior centers, libraries), parks and playing fields, and open space. It is anticipated that many of the forthcoming task force recommendations would require fiscal resources to address capital needs. In addition, both school systems have identified needs for facilities that would require funding beyond the current pay-as-you-go revenues. The Board has charged a Capital Needs Advisory Task Force (CNATF) with reviewing the identified County and school capital needs and developing recommendations regarding the projects that would be likely candidates for the anticipated November 2001 bond referendum. During June 2001, the Board will decide the final bond package that would go to the voters in November. It is quite likely that the amount of money needed to fund priority capital needs can not be addressed solely through the November 2001 bond. The amount of pay-as-you-go funding available in future years is also limited. In light of the many unknowns at this time, staff recommends that the Board postpone developing aten-year plan until the outstanding issues are resolved. This would ensure that the County's CIP provides along-range plan that best utilizes our limited resources, whether funded through bonds, pay-as-you-go funding, or other debt mechanisms, to fund priority capital needs for both the County and the Schools. Staff asks that the Board adopt an interim capital plan far one-year (fiscal year 2001-02) that allocates only the pay-as-you-go funds. Once the amount of the November 2001 bond referendum is finalized, staff would formulate aten-year CIP over the upcoming summer months and present it to the Board in the fall.