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<br /> Notice of Public Hearing-Orange County,North Carolina
<br /> Financing for Various Public Improvements and Acquisitions
<br /> The Board of Commissioners of Orange County,North Carolina,will hold a public hearing
<br /> on Tuesday,May 4,2021,at 7:00 p.m.(or as soon thereafter as the matter may be heard).The purpose
<br /> of the hearing is to take public comment concerning a proposed financing contract,under which the
<br /> County would borrow an amount expected to not exceed$18,700,000 to pay for the various public
<br /> improvements and acquisitions shown here:
<br /> Component Estimated Cost
<br /> Court Street Annex Renovations $ 188,600
<br /> Criminal Justice Resource Department Expansion/Renovation $ 205,779
<br /> Accessibility&Security Improvements $ 194,643
<br /> Government Services Annex Stormwater&Renovations $ 375,000
<br /> HVAC Projects $ 714,203
<br /> Major Plumbing Repairs $ 195,343
<br /> Justice Facility Improvements $ 43,221
<br /> Parking Lot Improvements $ 57,280
<br /> Roofing&Building Fagade Improvements $ 1,130,353
<br /> Whined Building Stormwater&Renovations $ 942,372
<br /> Link Center Remediation $ 282,377
<br /> IT Fiber Connectivity $ 302,532
<br /> ITGC Initiatives&IT Infrastructure $ 372,097
<br /> Solid Waste—Improvements&Vehicle Replacement $ 319,952
<br /> Emergency Services Vehicle Replacements $ 801,802
<br /> Sheriff vehicle replacements $ 107,104
<br /> Communication System Improvements $ 150,000
<br /> Blackwood Farm Park Construction $ 2,935,000
<br /> Parks—Renovations&Easements $ 420,486
<br /> Sportsplex—Maintenance&Repairs $ 698,304
<br /> Land Banking—Affordable Housing $ 628,313
<br /> Orange County Schools—Recurring Capital Projects $ 1,200,300
<br /> Orange County Schools—Maintenance&Improvements $ 651,586
<br /> Chapel Hill-Carrboro Schools—Recurring Capital Projects $ 1,799,700
<br /> Chapel Ell-Carrboro Schools—IT Infrastructure $ 1,519,261
<br /> Chapel Hill-Carrboro Schools—Supplemental Deferred Maintenance $ 631,740
<br /> Chapel Hill-Carrboro Schools—Various Maintenance&Improvements $ 1,808,454
<br /> Total Project Costs $ 18,675,802
<br /> The County also expects to use up to approximately$18,060,000 of loan proceeds to refinance
<br /> existing County loan obligations,and additional loan proceeds to pay financing costs.
<br /> The hearing will be held in the Commissioners' usual meeting room in the County's Whitted
<br /> Building,300 West Tryon Street,Hillsborough,North Carolina.
<br /> The proposed financing would be secured by a lien on some or all of the property purchased
<br /> or improved through the financing as well as the County's promise to repay the financing,but there
<br /> would be no recourse against the County or its property(other than the pledged property)if there
<br /> were a default on the financing. The refinancings are designed to provide savings to the County
<br /> without extending the terms of the existing loans.
<br /> The County expects that the collateral for the financing will include property acquired or
<br /> improved through the proceeds of the new borrowing, as well as potentially property acquired or
<br /> improved through the proceeds of the borrowings to be refinanced.In particular,the County expects
<br /> that the Whirred Building on West Tryon Street in Hillsborough will be part of the collateral.
<br /> All interested persons will be heard. The County's plans are subject to change based on the
<br /> comments received at the public hearing and the Board's subsequent discussion and consideration.
<br /> The County's entering into the financing is subject to obtaining approval from the North Carolina
<br /> Local Government Commission.
<br /> Persons wishing to make written comments in advance of the hearing or wishing more
<br /> information concerning the subject of the hearing may contact Gary Donaldson, Orange County
<br /> Chief Financial Officer,Post Office Box 8181,Hillsborough,NC 27278(telephone 919/245-2453,
<br /> email gonaldson@orangecountync.gov).
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