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62 <br /> Major Projects — Pay-Go Phase-in <br /> • To spread out tax burden, the Manager's Recommended CIP splits Pay-Go <br /> introduction into two steps. $6.4 M in FY 26, and an additional $3.6 M in FY 27, <br /> to reach $10 M target. <br /> - To maintain $100 M over 10-year commitment, the $3.6 M shortage in year 1 is added <br /> incrementally into the later years of the plan. Reaches $11 .2 M in year 10. <br /> • $6.4 M is tied to specific project activities listed below. <br /> Amount Usage Convert to Bond Proceeds? <br /> Design funds for Carrboro Elementary <br /> $5.3 M (pg. 132) Yes. Can borrow design with construction in FY 27. <br /> Not directly. Would need to be tied to specific <br /> Project Management Set Aside (pg. projects to be borrowed. Would increase project <br /> $1.0 M 164) budgets. <br /> Preliminary site selection and design for Possibly. Only if construction on project occurs by FY <br /> $100 K OCS Elementary School (pg. 151) 27. <br /> ORANGE COUNTY <br /> 7 NORTH CAROLINA <br />