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66
<br /> Deferred Maintenance
<br /> Deferred Maintenance Projects - OCS
<br /> Project Category School Project Status; Active Project Type
<br /> Functional Service Area; Edj,,ation Proposed Bid date; T8D New
<br /> School System: oc5 Starting Date: 7/1/2020 Expansion
<br /> Completion Date: TBD Renovation x
<br /> Project Number: 51445 Replacement x
<br /> Project Description/Justification:
<br /> The FY2020-21 CIP included a supplemental funding program for deferred maintenance and life/safety
<br /> improvements. The program would involve a total of$30 million over the next three(3)year to expedite
<br /> each School District's backlog of deferred maintenance projects. Based on the FY 2021-22 Average Daily
<br /> Membership (ADM)percentage,OCS share will be$12,003,000 over the three (3)year period.
<br /> The Supplemental Deferred Maintenance program described above would use debt financing to supplement
<br /> an additional $3 million that is recommended to be funded using band premiums that were earned when
<br /> the County issued$85.4 million in General Obligation Bonds in FY 2017-18. The$3 million appropriation in
<br /> FY2020-21 will exhaust the bond premium earned in FY 2017-18. OCS share of this$3 million was
<br /> $1,200,300 in FY2020-21.
<br /> FINANCIAL SUMMARY
<br /> Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6
<br /> Prior Years Fistal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to
<br /> Project budget Funding 2020-21 2021-22 2622-23 202.3-24 2024-25 2025-26 Total Year 10
<br /> Approprio tion
<br /> Construction/Re airsfRenovotions 1,19S,800 S,350,300 3,600,000 4,2S3,000 7,053,0100 44,303,06S
<br /> Appropriation Total 11195,800 5,350,300 3,600,000 4,253,000 7,953,000 44,303,065
<br /> Revenues/funding Source
<br /> DebtMancing-Schoolfrtlprovemeelts 4,150,000 3,600,000 4,253,000 7,853,000 44,303,065
<br /> From Ca italReserve Funds 1,195,800 1,200,300
<br /> Revenues1Funding Source Total 1,195,800 5,350,300 3,600,000 4,253,000 7,8$3,000 44,303,065
<br /> ORANGE COUNTY
<br /> NORTH CAROLINA
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