Orange County NC Website
Browse       Search
11 <br /> 1 Slide #4 <br /> FY2025-35 Recommended Capital Investment Plan <br /> • Education Projects— 10 Year Plan <br /> School Capital Funding Policy <br /> • Adopted January 211 by BOCC <br /> • School submissions align with Board project-based allocation <br /> • $300 million School Bond <br /> — Allocated by speck project over 6-year window. <br /> — Each District starting design on elementary school in FY2025-26 <br /> — Staff adjusted sequencing of district submissions to ensure both were receiving funds at equal rates <br /> • $100 million Pay-As-You-Go(not borrowed) <br /> — Two-year phase in of Pay-Go <br /> o FY2025-26 $6.4 million <br /> n FY 2026-27 $10 million <br /> — Additional Funding to be added in years 6-10 to achieve$100 Mover 10 years. <br /> — Provides Flexibility&No interest <br /> — Reduces Impact of Borrowing on Debt Service to General Fund Revenue Measure1 <br /> — Endunng Source of Maintenance Funds After Bond is Exhausted ORANGE COUNTY <br /> 4 NOR'i'H C.ARULINA <br /> 2 <br /> 3 <br /> 4 Slide #5 <br /> FY2025-35 Recommended Capital Investment Plan <br /> • Education Projects- FY 2025-26 <br /> — Major Projects-$12.4 million <br /> Design of Carrboro Elementary <br /> OCS Elementary School Design <br /> Project Management Funds <br /> — High Priority Needs—Allocated to specific projects in both districts-$6.3 M <br /> — Other Capital Uses—Allocated by Category-$6.4 M <br /> — Last Tranche of Supplemental Deferred Maintenance <br /> PreviouslyAuthorrzed $26,631,000 $24,369,000 <br /> FY2025-26 $9,000,000 <br /> TOTAL $35,631,000 $24,369,000 ORANGE COUNTY <br /> 5 NORTH C'AROLINA <br /> 5 <br /> 6 Commissioner McKee asked what the unacceptable negative impact would be if the high <br /> 7 priority needs projects were delayed. <br /> 8 Travis Myren said those funds would be borrowed. He said these would be HVAC or <br /> 9 electrical system replacement projects. He said it would be a system that would impact the way <br /> 10 a facility would operate or be able to open. <br /> 11 Commissioner McKee said he did not see that it was borrowed funds and that even though <br /> 12 an immediate expenditure would not be required, the debt would still have to be paid down and <br /> 13 that has a tax impact. <br />