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<br /> 1 Slide #6
<br /> Major Projects — Project Costs and Funding Source
<br /> Major Projects are funded using a combination of Pay-Go and Bond Funds.
<br /> CHCCS Projects Bond Funds Pay-Go Funds Total funds OCS Projects ANNElk—P-y-Go funds Total FurKis
<br /> Carrboro Elementary $ 47,700,000 $ 5,300,000 $ 53,000,000 Elementary Replacement 5 57,283,000 $ 2,817,000 $ 60,100,000
<br /> Estes Hills Elementary$ 51,547,000 $11,283,000 $ 62,830,000 Major Elementary Renovation $ 27.000,000 $ 3,000,000 $ 30,000,000
<br /> Frank Porter Graham $ 63,901,300 $ 6,240,000 $ 70,141,300 Major Middle School Renovation $ 37,340,000 $ 7,660,000 $ 45,000,000
<br /> Contingency+HPN $ 11,551,700 $31,050,999 $ 42,602,699 Cont ingency+H P N $ 3,677,000 $22,649,001 $ 26,326,001
<br /> Total $174,700,000 $53,873,999 $228,573,999 Total $125,300,000 $35,126,001 $161,426,001
<br /> • Pay-Go funds provide four major uses to support the Bond Program:
<br /> - Absorb soft costs like Design, Project Management
<br /> Project Management included in separate S1 Mlyear project not allocated to either district pending ILA
<br /> negotiations.
<br /> - Extend project budgets above what the Bond could support on its own.
<br /> - Improve County debt metrics once county debt exceeds 15% of GF revenues
<br /> Once bond projects are done, support the districts'High Priority Needs
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<br /> 5 Slide #7
<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 16-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 1641 budgets.
<br /> Preliminary site selection and design far Possibly.Only if construction on project occurs by FY
<br /> $100 K OGS Elementary School(pg,151) 27.
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