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14 <br /> Travis Myren reminded the Board that they approved the current budget for the project <br /> in March of 2021. He noted that the GMP has exceeded the allocated budget, so the Board <br /> would need to approve an increased budget to move forward with the current plan for the <br /> project. <br /> Slide #4 <br /> Debt Metrics <br /> Additlorral Prinelple and Intemst Payments -$9.2 mlllorr over 20 year term <br /> Debt Servbce to General Fund Revenue Poky <br /> rear CuMBMBLW AWSaAnl M CaORWIM <br /> 2W3 15.17% 1524116 0.075 <br /> 2024 15.0 tt 152m 0.201 <br /> 2025 115A 1d.61'b 0.19VI <br /> 2020 1391% JA.09% 0.185 <br /> 2027 1 7 <br /> Tax Rale Equivalent Analysis <br /> leear x,1-as5AfNWri alr�renoe <br /> 2023 0.29E 0,354 O.ON <br /> 2O24 0.364 0.5M 0.154 <br /> 2025 0.044 0.05i 0.004 <br /> 2322c 0.044 0009 0.00C <br /> 2a27 0.M 0004 0.U0 <br /> ORANGE COUNTY <br /> NOWrd I CAROLINA <br /> Slide #5 <br /> Scope Reduction <br /> Option 1 - Delete the Orange County Skills Development Center <br /> from the project with minimal redesign <br /> — Time for redesign is swan(7)months to permitting and bidding <br /> Redesign cost approximately SOM.00D In archlleotural fees <br /> • OptionZ Delete the Orange County Skills Development Center <br /> from the project with a more comprehensive redesign <br /> — Opportunity tomlilize apre-cast parking deck <br /> Time for redesign seventeen(17)months to permittlrkg and bldding <br /> Redesign tiwoud costapproxlmatmy $1,539,000_ <br /> Removes 12,600 square feet of program space and 45 parking <br /> spaces <br /> * The Construction Manager estimates a construction cost savings of <br /> approximately$3.765.000 <br /> ems. <br /> ORANGE COUNTY <br /> MOFUI I CAROLINA <br />