Agenda - 06-21-2022; 6-b - Accept the Ten-Year Capital Investment Plan (CIP) and Approve the Orange County Overall CIP Projects of $40,610,532 for FY 2022-23

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: June 21, 2022 Action Agenda Item No. 6-b SUBJECT: Accept the Ten-Year Capital Investment Plan (CIP) and Approve the Orange County Overall CIP Projects of$40,610,532 for FY 2022-23 DEPARTMENT: County Manager and Finance and Administrative Services ATTACHMENT(S): INFORMATION CONTACT: 1. FY 2022-32 Capital Investment Bonnie Hammersley, (919) 245-2300 Plan Overall Summary Travis Myren, (919) 245-2308 2. County Capital Approved FY 2022- Gary Donaldson, (919) 245-2453 23 CIP Projects Summary Rebecca Crawford, (919) 245-2152 3. Proprietary Capital Approved FY 2022-23 CIP Projects Summary 4. School Capital Approved FY 2022- 23 CIP Projects Summary PURPOSE: To accept the FY 2022-32 Orange County Five-Year Capital Investment Plan (CIP), and approve the Orange County Overall CIP Projects of $40,610,532 for FY 2022-23. BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) that establishes a budget planning guide related to capital needs for the County as well as Schools. The current CIP consists of a 10-year plan that is evaluated annually to include year-to- year changes in priorities, needs, and available resources. Approval of the CIP commits the County to the first year funding only of the capital projects; all other years are used as a planning tool and serves as a financial plan. Capital Investment Plan — Overview The FY 2022-32 CIP includes County Projects, School Projects, and Proprietary Projects. The School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and Durham Technical Community College — Orange County Campus projects. The Proprietary Projects include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. The CIP has been prepared anticipating moderate economic growth of approximately 2% in property tax growth over the next five years, and 4% sales tax growth. Many of the projects in the CIP will rely on debt financing to fund the projects. Attachment 1 is the FY 2022-32 Capital Investment Plan Overall Summary of $40,610,532 (individual projects were provided to the Board of County Commissioners at previous work sessions, and revised project funding was discussed at the June 9, 2022 budget work session).