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11 <br /> 1 Slide #11 <br /> Capital Budget Amendments <br /> Amendmen Sponsor CIP Budget Page Department Amendment Year I Impact 10 year CIP <br /> t# Impact <br /> nable a 1.79 cent reduction in the FY <br /> 5-26 tax increase by amending Scheol <br /> apital Pay-Go Phase-in to $500k in <br /> Carter,Portie Mar 1.$6M in year 2,$10M in year 3. <br /> IP-814 Ascott,Hamilton, 131-154 Schools tanning for Major Projects fully funded -$5DD,000 $9,900,000 <br /> McKee <br /> y accelerating pond spending in year 1 <br /> and year 2.Reduces 10 year Pay-Go <br /> unding for School Major Projects by <br /> 9.9 M. <br /> 11 ORANGE <br /> RTH CA OUNATY <br /> 2 <br /> 3 Commissioner Carter reviewed amendment CIP-B14, which she co-sponsored. She said <br /> 4 the objective was to see if there was a way to minimize tax increases, considering feedback from <br /> 5 the community and economic uncertainty. She said residential property owners will pay more in <br /> 6 taxes due to the increase in valuation of their properties. She said voters approved a bond <br /> 7 referendum in Fall 2024 for schools. She said that the Board is looking for a balance between the <br /> 8 two approaches. She said that the Board was presented several options by staff in May, and this <br /> 9 amendment was part of"Framework 2." She reviewed the changes in funding as listed on slide <br /> 10 #9. <br /> 11 Commissioner McKee said that the impact of the change will reduce the 2025-26 to be <br /> 12 much closer to the revenue neutral rate. He said that this amendment would make the rate 63.0 <br /> 13 and that is only 1.19 cents higher than revenue neutral rates. He said this does not account for <br /> 14 the CHCCS special district tax, fire district tax, or municipalities. He said it might make a difference <br /> 15 for someone living paycheck to paycheck. <br /> 16 Commissioner Portie-Ascott said that while this amendment reduces the total available in <br /> 17 the pay-go bond plan, it is an opportunity to blunt some of the impact of the multi-level tax impacts <br /> 18 they are seeing this year. She said another upside is that it smooths out the revaluation. She said <br /> 19 that it is worth noting that the bond referendum did not mention the pay-go amounts. She said the <br /> 20 Board has made it clear that the intent of the pay-go was to provide flexibility and due to the <br /> 21 unique moment, this flexibility is needed. <br /> 22 Commissioner McKee said support for this amendment would be very much appreciated <br /> 23 by many residents that are on fixed incomes or working lower paying jobs. <br /> 24 Vice-Chair Hamilton said her colleagues did a great job on the amendment. She said that <br /> 25 everyone must make adjustments considering the budget situation. She said they must think of <br /> 26 those who don't have much and that even small reductions could make a difference. <br /> 27 Commissioner Fowler said she respects the concerns, but she would rather support what <br /> 28 was recommended by the County Manager because the tax rates will need to be raised in future <br /> 29 years. She said they have reviewed the debt model in detail. She said even with the current plan <br /> 30 it gets them only about 1/3 of the need. <br />