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5 <br /> costs associated with future construction activity. The recommendation for FY2026-27 <br /> represents a $3 million increase in pay-as-you-go funding compared to FY2025-26. This <br /> additional cash investment equates to a tax rate of approximately .89 cents per $100 of <br /> assessed value in the upcoming FY2026-27 Operating Budget. <br /> Pay-as-you-go funding is planned to grow by $3 million in FY 2027-28 and by an additional <br /> $3.5 million FY 2028-29 to reach an annual contribution of $10 million which is planned to <br /> be maintained throughout the remaining life of the Recommended Plan. <br /> Future Major School Projects are distributed over a seven-year period as required by the <br /> North Carolina Local Government Commission (LGC) for projects funded with general <br /> obligation bonds. This implementation timeline may be extended to ten years with approval <br /> by the LGC. The Major Projects are programmed to continue throughout the FY2026-36 CIP <br /> as detailed in the following table. <br /> School . • <br /> 126-36 CIP Recommended <br /> Year of Project Cash Financing Debt Financing <br /> _Construction <br /> FY2026-27 Carrboro $0 $53,000,000 <br /> Elementary <br /> FY2026-27 OCS Replacement $2,500,000 $54,500,000 <br /> Elementary <br /> FY2027-28 Estes Hills $3,319,063 $59,510,937 <br /> Elementary School <br /> Replacement <br /> FY2027-28 AL Stanback HVAC $2,180,937 $3,100,000 <br /> replacement <br /> FY2029-30 Chapel Hill High $5,000,000 $1,000,000 <br /> School Roof <br /> Replacement <br /> FY2030-31 Orange Middle $12,300,000 $67,700,000 <br /> School Major <br /> Renovation <br /> FY2031-32 Frank Porter $8,952,237 $61,189,063 <br /> Graham Elementary <br /> School <br /> TOTAL $34,252,237 $300,000,000 <br /> Orange County Schools had originally planned for an elementary school renovation in FY <br /> 2033-34, but those funds were largely crowded out by the increased cost of the Orange <br /> Middle School renovation planned for FY2030-31. <br /> Page 1 3 <br />