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<br /> 1 5lide#4
<br /> Major Projects — Projects and Sequencing
<br /> Carrboro Design Construction
<br /> Chapel Hill-Elementary
<br /> Carrboro Estes Hills Design Construction
<br /> City Schools Elementary
<br /> Frank Porter
<br /> p.133-135 Graham Design Construction Close Out
<br /> Elementary
<br /> Orange New Elementary Design Construction
<br /> County School
<br /> Schools Orange Middle Pre-Design
<br /> Renovation Scope Design Construction Close Out
<br /> 147-48
<br /> - OCS may not be able to fund third major project due to increased cost of Orange Middle School
<br /> County used the following rules to sequence these plans
<br /> - Bonds must be borrowed within 7 years of referendum-FY 2031. May ask for 3-year extension with LGC.
<br /> Once borrowed,funds must be drawn down for actual expenses within 3 years.
<br /> Funds are allocated between the districts fairly
<br /> ORANGE COUNTY
<br /> 4 NORTH CAROLINA
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<br /> 3 Kirk Vaughn presented the sequencing of projects by district, explaining that the county
<br /> 4 attempted to borrow within the first seven years of the referendum, noting there is a possibility of a three-
<br /> 5 year extension with the Local Government Commission. He explained that once funds are borrowed,they
<br /> 6 must be drawn down with actual expenses within three years,and that the county tried to ensure projects
<br /> 7 were fairly allocated between the two districts so neither had to wait disproportionately.
<br /> 8
<br /> 9 5lide#5
<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 Total Funds OCS Projects Bond Funds Pay-Go Total Funds
<br /> Funds Funds
<br /> Carrboro Elementary Elementary
<br /> $53,000,000 $0 $53,000,000 Replacement $54,500,000 $2,500,000 $57,000,000
<br /> Estes Hills Elementary Orange Middle
<br /> $59,510,937 $3,319,063 $62,830,000 Renovation $67,700,000 $12,300,000 $80,000,000
<br /> Frank Porter Graham $61,189,063 $8,952,237 $70,141,300
<br /> Contingency+HPN $1,000,()0() $38,482,699 $39,482,699 Contingency+HPN $3,100,000 $19,246,001 $22,346 001
<br /> Total $174,700,000 $50,753,999 $225,453,999 Total $125,300,000 $34,046,001 $159,346,001
<br /> ORANGE COUNTY
<br /> 5 NORTH CAROLINA
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