Orange County NC Website
Browse       Search
47 <br /> Slide #15 <br /> Scenario C1 - $400 million band + $130 million County Plan <br /> Financing Amounts <br /> 16tni Cwmry Fundln <br /> County Faclllty Plan over ten yearn Scanarlo C1-Tex Rate <br /> - Tax Impact can be reduced bey sting CIP 2.ocents <br /> Exi5ting Count CIP $ 192-0 million 7ocard IrComwplenredaced ounty Facllo Plan 0,68cents <br /> Y to$75 rrdban <br /> Plus Other Existing Resources $ 10.0 million ditiorW School Needs 5.21Cent5 <br /> County Fadl4y Plan $ 130.0 million <br /> Woolpert 00lon G T _3541.2 otal Tax Ir act 7.89cents <br /> r�r>fal <br /> Total Ca al Fundfn -County $ 332.00 rrullw 36.8 mutton aver waakprn 9unarla Scenario Cl-Debt Service to Revenue Policy <br /> C laryel to ad}rys a4Vlonel ss.n% <br /> r Y n66ft lLIX]a.GA 201% a•Y{ <br /> 7otoiicAooiFunding saox ��ixrn <br /> Existing School CIP+ $ 135.0 million rIvwtre hea ofacnccI bonvMnp wm ss.rr <br /> of$133.33 M each over a sawn ss.o� DA,, <br /> Plus Other Exrsting Resources $ 53.0 million yeer psdod <br /> moss <br /> dItIonal School Needs 400.0 mIIIIon <br /> sn� <br /> 7btal[apltalFunding $ 548.0rfunbn <br /> Wooanus <br /> Ipert Optron C $ 541.2 million �, y R� p g�+ M1�A A� <br /> verTar t $ 6..5 milliorr � � � ' 110* <br /> -Dan not Include W moon in recurring capllal or �UpWnSe M —'I"F <br /> Mien n prc*Ved Article 36 revenue for Iecimlogy ORANGE rr--��� N V <br /> Chair Bedford said usually if a bond is approved, borrowing is spread out over several <br /> years. She said it is front loaded and asked why the tax increase was planned where it was. <br /> Travis Myren said when there is a one-year tax increase, building a reserve so that when <br /> the peaks hit, that reserve can be applied, and a tax increase would not be necessary every time. <br /> Vice-Chair Greene asked if the debt service revenue ratio is concerning here. <br /> Travis Myren said it certainly would make budgeting a challenge to have around 20% of <br /> revenue tied up in debt service before funding any services. <br /> Commissioner McKee said that his fear is that it would drive tax increases and those are <br /> much harder on their low wealth citizens. <br />