Orange County NC Website
Browse       Search
5 <br /> The Plan assumes that the amount of debt financing increases by 2% each year while the <br /> amount of Article 46 proceeds increases by 4% annually. <br /> • Supplemental Deferred Maintenance - $4 million <br /> The Supplemental Deferred Maintenance Program was started in FY2020-21 to address <br /> deferred maintenance and life and safety improvements in school facilities. The program was <br /> designed to finance $30 million in school projects over three years on a schedule and <br /> sequence determined by the Districts. A second $30 million was authorized in FY2022-23 for <br /> a total authorization of$60 million intended to address deferred maintenance needs. <br /> Both installments of supplemental deferred maintenance were divided between the Districts <br /> using the average daily membership percentages at the time of the authorization. When <br /> combined, Chapel Hill-Carrboro City Schools has been allocated $35.7 million while Orange <br /> County schools has been allocated a total of $24.3 million. To date, the Districts have <br /> requested and the County has authorized $26.8 million that is available for immediate <br /> expenditure. The balance of the funds have been scheduled over the next three years. <br /> Chapel Hill-Carrboro City Schools has scheduled an additional $4 million in FY2023-24 <br /> followed by two additional installments of approximately $9 million in FY2024-25 and <br /> FY2025-26. Orange County Schools has scheduled $11.1 million in FY2024-25. These <br /> authorizations will complete the total $60 million commitment by the County. <br /> • Planning for a General Obligation Bond <br /> Following the direction provided by the Schools Capital Needs Task Force, the County has <br /> worked with School District staff to retain a school capital planning consultant. The <br /> consultant will, among other deliverables, complete a comprehensive review and analysis of <br /> school capital needs. <br /> The FY2023-33 CIP continues to reserve $130 million in general obligation bond proceeds for <br /> school capital needs. The CIP recommends authorizing$5 million in planning funds in FY2025- <br /> 26 followed by a tranche of $40 million in FY2026-27, $45 million in FY2028-29, and an <br /> additional $40 million in FY2030-31. As other authorized projects proceed or are delayed and <br /> the tax base increases, the capacity for a school facility bond may increase. The debt model <br /> will measure that capacity as the date to make final decisions on the bond amount nears. <br /> • Orange County Campus — Durham Technical Community College — Existing Facility <br /> Expansion - $10.5 million <br /> Durham Technical Community College has revised its approach to expanding the Orange <br /> County Campus. The prior strategy featured a new, stand-alone building for allied health <br /> instruction. Since that time, Durham County included an Allied Health facility as part of its <br /> bond referendum to expand the Durham Campus. <br /> The FY2023-24 CIP includes a $10.5 million expansion of the existing building on the Orange <br /> County campus. This funding would add 13,000 - 18,000 square feet to expand space for the <br /> Page 1 3 <br />