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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 1—Critical—Failure of components impact the <br /> facility's ability to remain open <br /> — New middle school to replace existing capacity Level 2—Essential—Failure of components impact <br /> — Replacement of Carrboro Elementary the health of major systems(i.e.leaking roofs) <br /> — Replacement of Culbreth 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 /> �1 <br /> a ORAN HE COUNTY <br /> 2 <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(59.86%) <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 Woolpert 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 bond funds and/pay-go <br /> — Annual maintenance <br /> — Lottery Proceeds <br /> — Existing capital balances <br /> ORANGE COUNTY <br /> 5 1,I0R717H CAROLINA <br /> 7 <br /> 8 <br /> 9 <br />