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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 9, 2024 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Discussion of Manager's Recommended FY 2024-34 Capital Investment Plan <br /> (CIP) <br /> DEPARTMENT: County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment A: Overall CIP Summary, Bonnie Hammersley, (919) 245-2300 <br /> County CIP Projects Travis Myren, (919) 245-2308 <br /> Summary, and Proprietary Kirk Vaughn, (919) 245-2153 <br /> CIP Projects Summary <br /> Previously Provided Under Separate <br /> Cover— Also Available Online: <br /> Manager Recommended FY2024-34 <br /> County Capital Investment Plan <br /> https://www.orangecountVnc.gov/budget <br /> PURPOSE: To discuss the Manager's Recommended FY 2024-34 Capital Investment Plan. <br /> BACKGROUND: Each year, the County produces a Capital Investment Plan (CIP) that <br /> establishes a budget planning guide related to capital needs for the County and Schools. The 10- <br /> Year CIP is evaluated annually to include year-to-year changes in priorities, needs, and available <br /> resources. Approval of the CIP commits the County to the first year funding only of the capital <br /> projects; all other years are used as a planning tool and serves as a financial plan <br /> Capital Investment Plan — Overview <br /> The FY 2024-34 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 and 4% in sales tax growth annually over the next ten years. The CIP will <br /> rely substantially on debt financing to fund the projects and these required debt amounts are fully <br /> integrated in the County's Long-Term Debt Model (page 40 provides a bar chart of the ten year <br /> funding plan). <br /> The meeting discussion will focus on County and Proprietary CIP projects. Note: Page numbers <br /> are referenced below as they appear in the CIP document. See Attachment A for the Overall CIP <br />