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31 <br /> 1 order to remind the board that they are ongoing projects. He said there is no new funding <br /> 2 recommended in the next 10 years. <br /> 3 Commissioner Bedford said she would like to know about those that have not yet been <br /> 4 borrowed, or the balance that may remain. <br /> 5 Paul Laughton said $293,000 was shifted from the Land Banking to the Affordable <br /> 6 Housing in the first part of issuance of$2.5 million. He said the ones that have not been <br /> 7 financed are covered in the debt model. <br /> 8 Commissioner Bedford asked if it is anticipated that the county will borrow $2 million in <br /> 9 the next five years. <br /> 10 Paul Laughton said yes. <br /> 11 Commissioner Bedford said it would be good for the housing group to know how much is <br /> 12 still available. <br /> 13 Chair Price said she thought the money for the projects was promised in prior funding <br /> 14 years and could not be touched. <br /> 15 Paul Laughton said it is available because the board did an appropriation towards it, so it <br /> 16 is in a separate multi-year capital investment project. He said Housing has done some <br /> 17 spending off of this, plus staff used $293,000 from the first year. He said there are monies still <br /> 18 available that can be used when ready. He said staff would go out for financing when a project <br /> 19 is ready, or has been done. <br /> 20 Bonnie Hammersley said the funds are not used without board approval. She said if it is <br /> 21 used for different purposes, the board has to approve it. <br /> 22 Chair Price asked if there is less than $2 million available for land banking. <br /> 23 Bonnie Hammersley said there is less. <br /> 24 Chair Price said the document should indicate as such. <br /> 25 Bonnie Hammersley said staff would work on that. <br /> 26 Commissioner Hamilton asked how debt service is affected if the county does not <br /> 27 borrow the funds that were budgeted. <br /> 28 Paul Laughton said just because it is budgeted, and intended to be financed, the Local <br /> 29 Government Commission (LGC) wants bids in hand or construction that has started. He said <br /> 30 the LGC wants to have that backup before approving financing of the money. He said the <br /> 31 county will not issue debt until bids have gone out or construction has started. He said if the <br /> 32 county does incur expenses, it will reimburse itself for those costs when it does the financing. <br /> 33 He said it does not hit debt service until it is included in a financing package. <br /> 34 Bonnie Hammersley said the debt service is for exactly what has been borrowed. <br /> 35 Paul Laughton said the debt models are based on the recommended CIP, and if a <br /> 36 project is started in year 3, the debt service will not start until year 4. He said the BOCC reviews <br /> 37 the CIP every year, and things get moved around. <br /> 38 Travis Myren resumed the PowerPoint presentation: <br /> 39 <br /> FY2021-26 Recammenaeu cap,lar rrmBslmem Aran <br /> . NGA s <br /> —ONurh"Aevrw <br /> - V 6'rW M*#bFo <br /> •Awf I] W.r iwr.�b C¢ir Mrr vrwFFllw <br /> •JFi�i Y1Ew'7ua,1 #�•ra�1—QF <br /> - ,+a war s+w.,.wr.q�wgtr•�b dm w CM <br /> •:'ro Wui' u.l01RR'6u a.W' illO qi <br /> • irT Wui Sxuor la FL� war rwr <br /> •i t{4 Aflrf+ri d CW m"�r+yfiif CMr{OLwrr <br /> 40 <br />