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39 <br /> Slide #10 <br /> INC Thanks! <br /> )ANFORD <br /> Ho l SHOUSFR <br /> LAWYERS AN❑ADVISORS Questions? <br /> Bob Jessup said by early April 2024, the Board needs to know what they'd like to bond to <br /> address and plan for a public hearing, with the bond referendum in November 2024. <br /> Commissioner Richards asked if counties typically have an idea of needed projects before <br /> moving forward. <br /> Bob Jessup said yes, that's the information that would inform them how much to ask for <br /> on the bond. He said it is also typical to have a project in the queue they can assign to the bond. <br /> Commissioner Hamilton asked if the schools capital needs consultant could provide some <br /> numbers that would be helpful in determining the need for a bond. <br /> Travis Myren said they could ask them to. He said by April of next year they should have <br /> a good idea. <br /> Commissioner Hamilton asked how long the informal process has taken in Orange <br /> County. <br /> Jessup said years because of the approach Orange County takes with receiving input <br /> from the community through task forces and other avenues. He said most counties he works with <br /> could have it done within a day. He reiterated that this is a commissioner-driven process. <br /> Bonnie Hammersley said the informal process for the 2016 bond was started about a year <br /> in advance. <br /> Vice-Chair McKee said there was no task force for the 2016 bond and the Board of <br /> Commissioners at the time wanted the bond to provide funding for schools, but community <br /> members advocated for different allocations of the funds. He said the need for affordable housing <br /> became predominant amongst conversations, and a reduction was made in the amount for <br /> schools to allocate $5 million for affordable housing, to keep the total amount for the bond $125 <br /> million. <br /> Chair Bedford said there was a Bond Education Committee that was tasked with informing <br /> the community of what the bond would do. <br /> Commissioner Hamilton added this committee was formed after the Board voted to move <br /> forward with the bond. <br /> Travis Myren said the county can afford a $130 million bond at this time, over 5 years. <br /> Vice-Chair McKee asked if the last bond will be paid off by November 2024. <br /> Bonnie Hammersley said no, it's paid back over 20 years. She added that the last bond <br /> before 2016 was in 2001. <br /> Commissioner Greene asked what the 2001 bond addressed. <br /> Vice-Chair McKee said it was for parks, senior centers, schools, and one other item he <br /> couldn't recall. He shared his reasoning for his vote on the 2016 bond. He said the total need at <br /> the time surpassed the county's debt capacity. He said if the Board had added additional areas <br /> for the money to be distributed, it would have reduced the amount to schools to $60 million and <br /> with the 60-40 split between the systems it wouldn't have been enough to even rebuild Chapel <br />