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16 <br /> Slide#20 <br /> FY2026-36 Recommended Capital Investment Plan <br /> Funding the Plan <br /> • Total FY2026-27 Capital Budget Impact—2.90 cents per$100 of value <br /> — Pay-Go—89 cent tax rate equivalent <br /> — Debt—2.01 cent tax rate equivalent FiscalYear Incremental Tax <br /> • FY2028-29—Increase of 4.58 cents per$100 of value <br /> — Principal and interest payments on FY2026 -27 borrowing 2026-27 2.01 <br /> — Interest payments on FY2027-28 borrowing 2027-28 1.09 <br /> 2028-29 4.58 <br /> 2029-30 1.61 <br /> 2030-31 <br /> 2031-32 <br /> 2032-33 1.48 <br /> Total 10.77 <br /> ORANGE COUNTY <br /> 20 NORTH CAROLINA <br /> Travis Myren confirmed that the debt service increase equated to about 2 cents on the tax rate, <br /> with an additional 0.89 cents for pay-go,totaling almost a 3 cent in tax increase. <br /> Commissioner McKee emphasized that this represented a baseline, not including inflationary <br /> factors or increased services. <br /> Chair Hamilton reminded the Board that they will have the opportunity to go into more detail on <br /> April 16cn <br /> Commissioner McKee said residents need to understand that there will likely be future tax <br /> increases. <br /> Chair Hamilton reminded the Board that the bond referendum was passed by voters, and that <br /> understanding that tax increases may occur is part of the county's responsibility to communicate with the <br /> public. <br /> Vice-Chair Fowler said to Commissioner McKee's point of the increase in debt service,this was the <br /> basis for her preference in keeping more pay-go last year to smooth out the increases. <br /> Commissioner McKee said this Board and future boards will have the opportunity to delay projects <br /> as needed. <br /> Commissioner Bedford requested management suggestions for smoothing out the 2028-29 <br /> increase, possibly through project timing adjustments. <br /> S. Public Hearings <br /> a. Public Hearing on the Draft 2026-27 HOME Investment Partnership Annual Action Plan (AAP) <br /> The Board held a public hearing to receive public comment on the Draft 2026-27 HOME Investment <br /> Partnership Annual Action Plan (AAP). <br /> BACKGROUND: The HOME Consortium Local Government Affordable Housing Collaborative (LGAHC) is <br /> made up of elected officials from all four(4) participating jurisdictions: Carrboro,Chapel Hill, Hillsborough, <br /> and Orange County. The Collaborative reviews staff recommendations on strategy and policy around <br /> HOME federal funding, and makes recommendations to the Boards and Councils of each jurisdiction for <br /> final approval. <br />