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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 23, 2020 <br /> Action Agenda <br /> Item No. 2 <br /> SUBJECT: Discussion of Manager's Recommended FY 2020-25 Capital Investment Plan <br /> (CIP) for Schools and Durham Tech <br /> DEPARTMENT: County Manager and Finance <br /> and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment A: Overall CIP Summary, Bonnie Hammersley, (919) 245-2300 <br /> Schools CIP Projects Travis Myren, (919) 245-2308 <br /> Summary Gary Donaldson, (919) 245-2453 <br /> Paul Laughton, (919) 245-2152 <br /> Previously Provided Under Separate <br /> Cover— Also Available Online: <br /> Manager Recommended FY2020-25 <br /> County Capital Investment Plan <br /> http://www.orangecountVnc.gov/714/Count <br /> y-Budgets <br /> PURPOSE: To discuss the Manager's Recommended FY 2020-25 Capital Investment Plan <br /> related to Schools and Durham Technical Community College — Orange County Campus <br /> Projects. <br /> BACKGROUND: Each year, the County produces a Capital Investment Plan (CIP) that <br /> establishes a budget planning guide related to capital needs for the County as well as Schools. <br /> The current CIP consists of a 5-year plan that is evaluated annually to include year-to-year <br /> changes in priorities, needs, and available resources. Approval of the CIP commits the County <br /> to the first year funding only of the capital projects; all other years are used as a planning tool <br /> and serves as a financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2020-25 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 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 />