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FINANCIAL IMPACT: There is no financial impact associated with this update. As approved <br />by the Board at the .tune 23, 2QQ5 meeting, the net cost to the County for the SportsPlex <br />acquisition will be ± $5.565 million. Funding for the acquisition will come through third party <br />financing, described in this abstract, that will be subject tc approval by the North Carolina Local <br />Government Commission, The estimated cost of the Senior Center expansion project is <br />approximately $2 million, which will come from November 2QQ 1 voter approved bonds and <br />alternative financing as needed. <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the accompanying <br />resolution related to the Local Government Commission financing application, and provide other <br />appropriate feedback and direction to staff regarding the project, <br />