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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 20, 2023 <br /> Action Agenda <br /> Item No. 6-b <br /> SUBJECT: Accept the Ten-Year Capital Investment Plan (CIP) and Approve the FY 2023- <br /> 24 Orange County Overall CIP Projects <br /> DEPARTMENT: County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. FY 2023-33 Capital Investment Bonnie Hammersley, (919) 245-2300 <br /> Plan Overall Summary Travis Myren, (919) 245-2308 <br /> 2. County Capital Approved FY 2023- Kirk Vaughn, (919) 245-2153 <br /> 33 CIP Projects Summary <br /> 3. Proprietary Capital Approved FY <br /> 2023-33 CIP Projects Summary <br /> 4. School Capital Approved FY 2023- <br /> 33 CIP Projects Summary <br /> PURPOSE: To accept the FY 2023-33 Orange County Ten-Year Capital Investment Plan (CIP), <br /> and approve the FY 2023-24 Orange County Overall CIP Projects. <br /> BACKGROUND: For over 20 years, the County has produced a Capital Investment Plan (CIP) <br /> that establishes a budget planning guide related to capital needs for the County as well as <br /> Schools. The current CIP consists of a 10-year plan that is evaluated annually to include year-to- <br /> year changes in priorities, needs, and available resources. Approval of the CIP commits the <br /> County to the first year funding only of the capital projects; all other years are used as a planning <br /> tool and serves as a financial plan. <br /> Capital Investment Plan — Overview <br /> The FY 2023-33 CIP includes County Projects, School Projects, and Proprietary Projects. The <br /> School Projects include Chapel Hill-Carrboro City Schools, Orange County Schools, and Durham <br /> Technical Community College — Orange County Campus projects. The Proprietary Projects <br /> include Water and Sewer, Solid Waste Enterprise Fund, and Sportsplex projects. <br /> The CIP has been prepared anticipating moderate economic growth of approximately 2% in <br /> property tax growth over the next ten years, and 4% sales tax growth. Many of the projects in the <br /> CIP will rely on debt financing to fund the projects. <br /> Attachment 1 is the FY 2023-33 Capital Investment Plan Overall Summary of $58,436,700 <br /> (individual projects were provided to the Board of County Commissioners at previous work <br /> sessions, and revised project funding was discussed at the June 8, 2023 budget work session). <br />