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20 <br /> Commissioner Fowler asked if the Board goes forward with the current increased price, <br /> how that will impact the timeline to fund capital needs of schools and the Crisis Diversion <br /> Facility. <br /> Travis Myren said the CIP that is being worked on now, includes additional funds for <br /> school repairs and there will be capacity for a $120 million bond in 2027. He said the Crisis <br /> Diversion Facility is an unknown and not currently in the CIP. He said the county also needs to <br /> reckon with the replacement of the recreation center that also is not in the CIP. <br /> Commissioner Fowler asked if that is repairs for the recreation center. <br /> Travis Myren said the needs are not known right now, but significant work will be <br /> needed in the next 10 years. <br /> Commissioner Fowler asked for additional info on $4 million capital reserve. <br /> Travis Myren said there was a fiscal year end surplus last year and the Board approved <br /> allocating some of it for capital reserve, as well as some for COVID-related expenditures that <br /> may not be reimbursed by FEMA. He said the Board could allocate the money to this project <br /> through a budget amendment and finance the remainder. <br /> Commissioner Fowler asked if taxes still have to be raised even if the capital reserve <br /> money is used. <br /> Travis Myren said taxes are already increasing for the current project budget, and if the <br /> $4 million in capital reserve is used, less money would be needed, and thus less of an <br /> additional tax raise. He clarified that taxes would still have to be raised by some amount <br /> regardless. <br /> Commissioner Fowler asked if that means other projects would not be addressed until <br /> after 2027 or beyond. <br /> Travis Myren said yes, if the Board wants to maintain the tax rate. <br /> Commissioner McKee asked if there is an option to get out of the Skills Development <br /> Center lease and what the cost would be. <br /> Travis Myren said the first term is up either this year or next year. <br /> Commissioner McKee clarified that if the county did not extend the lease, then there <br /> would be no cost. <br /> Travis Myren said correct. He said he ran the numbers, and over a 20-year term, the <br /> cost would be $6.4 million in Skills Development Center rent at Europa Center, compared to the <br /> principle interest of $8.2 million. <br /> Commissioner McKee asked how many years the terms of the lease are. <br /> Travis Myren said he is not sure. <br /> Commissioner McKee said his concern is that the project will not be ready before the <br /> county would have to renew for a new lease term. <br /> Travis Myren said the county can negotiate an extension based on the progress of the <br /> project. <br /> Commissioner McKee clarified and said that the Board is not locked into renewing for 5 <br /> or 10 years and that the Board could negotiate different terms. <br /> Travis Myren said that yes those are voluntary. <br /> Commissioner McKee said the Board gives around $568,000 a year to the Chapel Hill <br /> Library and asked how the Library Task Force is going. He asked about where those <br /> discussions are now. <br /> Travis Myren said the first meeting has taken place and the next one is scheduled for <br /> April. <br /> Commissioner McKee clarification that there will be ongoing expenses to the library of <br /> half a million dollars, in addition to the cost of construction, for staffing and maintenance of the <br /> library. He said this could open a conversation on renegotiating the amount given to Chapel Hill <br />