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51 <br /> 1 Slide #4 <br /> Framework for Allocating Capital Funding <br /> • In general, projects will be consistent with the Orange County Schools Major Projects <br /> principles of the Woolpert Plan - New elementary school to replace existing capacity <br /> - Replacement of Orange Middle School <br /> - Rebuild or significant renovation of an additional <br /> • Circumstances change elementary school that improves educational adequacy <br /> May need to adjust projects,timing,or both <br /> Review of capital plans at least annually for adjustments <br /> • High Priority Needs <br /> • Major Projects Planned now for full ten(10)year plan but formally <br /> determined on an annual basis and consistent with <br /> - Funded by G.O.Bond and pay-go High Priority Needs definitions: <br /> • Chapel Hill-Carrboro City Schools Major Projects Level 9-Critical-Failure of components impact the <br /> - New middle school to replace existing capacity facility's ability to remain open <br /> Level 2-Essential-Failure of components impact <br /> - Replacement of Carrboro Elementary the health of major systems(i.e.leaking roofs) <br /> - Replacement of Culbeeth Middle Level 3-Necessary-Failure of components could <br /> impact the facility's efficiency and usefulness <br /> Life cycle replacements with one to three (1.3) <br /> years of remaining useful life at the time the study <br /> was completed <br /> 4 O aR GE COU TY <br /> LI NA2 <br /> 3 Travis Myren said that CHCCS Board of Education will meet on Thursday to discuss their <br /> 4 project plans. He said that there is no projection right now calling for net new capacity. <br /> 5 <br /> 6 Slide #5 <br /> Application of Funding Sources <br /> • General Obligation Bond <br /> - determined by Woolpert Recommendations Total funding from all sources for Major Projects <br /> - CHCCS-$174.7 million and High Priority Needs <br /> - OCS-$125.3 million - CHCCS-approximately$263 million(55.66%) <br /> - OCS-approximately$176 million(40.14%) <br /> • Pay-Go <br /> - Goal of providing$100 million over ten(10)years Remaining Sources <br /> - Funding for design funds and project management based - Recurring capital-average daily membership with charter <br /> on Woo 1pert recommendations students <br /> - Article 46 Sales Tax-average daily membership without <br /> • High Priority Needs charter students <br /> - Level 1,2,and 3 priorities and lifecycle replacements with <br /> one to three years of useful life at the time of the study <br /> - Remaining band funds and/pay-go <br /> - Annual maintenance <br /> - Lottery Proceeds <br /> - Existing capital balances <br /> *� � <br /> ORANGE COUNTY <br /> 5 NORTH CAROLINA <br /> 7 <br /> 8 <br /> 9 <br />