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2 <br /> The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> property tax growth over the next five years, and 4% sales tax growth in Years 2-5. Sales Tax <br /> proceeds for Year 1 (FY 2020-21) are estimated to decline by 4.5% due to the current <br /> coronavirus pandemic. Many of the projects in the CIP will rely on debt financing to fund the <br /> projects. <br /> FINANCIAL IMPACT: There is no immediate financial impact associated with the presentation <br /> of the FY 2020-25 Capital Investment Plan. It is a long-range financial planning tool with a <br /> financial impact in FY 2020-25, if the first year of the CIP is approved by the Board of County <br /> Commissioners with the adoption of the Annual Budget. <br /> SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated <br /> with this item. <br /> ENVIRONMENTAL IMPACT: There is no Orange County Environmental Responsibility Goal <br /> impact associated with this item. <br /> RECOMMENDATION(S): The Manager recommends the Board receive the presentation of the <br /> Manager's Recommended FY 2020-25 Capital Investment Plan and provide direction to staff in <br /> preparation for discussion at the April 14, 2020 Budget work session. <br />