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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 8, 2021 <br /> Action Agenda <br /> Item No. 2 <br /> SUBJECT: Discussion and Decisions on FY2021-26 Capital Investment Plan <br /> DEPARTMENT: County Manager and Finance and Administrative Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> A. FY2021-26 Capital Investment Plan Bonnie Hammersley, (919) 245-2300 <br /> Budget Amendment List Travis Myren, (919) 245-2308 <br /> (Under Separate Cover- Any Gary Donaldson, (919) 245-2453 <br /> Updates to the list will be provided Paul Laughton, (919) 245-2152 <br /> prior to the meeting) <br /> PURPOSE: To accept the FY2021-26 Capital Investment Plan and approve the Intent to Adopt <br /> Capital Funding for FY2021-22. <br /> BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) <br /> that establishes a budget planning guide related to capital needs for the County as well as <br /> Schools. The current CIP consists of a 5-year plan that is evaluated annually to include year-to- <br /> year changes in priorities, needs, and available resources. Approval of the CIP commits the <br /> County to the first year funding only of the capital projects; all other years are used as a planning <br /> tool and serves as a financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2021-26 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> School Projects include Chapel Hill-Carrboro City Schools (CHCCS), Orange County Schools <br /> (OCS), and Durham Technical Community College — Orange County Campus projects. The <br /> Proprietary Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex <br /> projects. <br /> The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> property tax growth and 4% sales tax growth over the next five years. Many of the projects in the <br /> CIP will rely on debt financing to fund the projects. <br /> The items below include revisions made to the following Capital Projects since the presentation <br /> of the Manager's Recommended Capital Investment Plan on April 6, 2021 : <br /> • At the May 13, 2021 Budget Work Session, staff included a revised Schools Capital <br /> Projects Summary reflecting adjustments made in regards to changes to the FY 2021-22 <br /> budgeted average daily membership (ADM) percentages, based on changes made from <br /> the time of the original CIP presentation and the FY 2021-22 Manager's Recommended <br /> Operating Budget presentation. The impact of these numbers changed the CHCCS <br />