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<br /> 1 slide#6
<br /> Major Projects — Project Costs and Funding Source
<br /> • Pay-Go funds provide four major uses to support the Bond Program:
<br /> Absorb soft costs like design, Project Management
<br /> Project Management included in separate$1 Mlyear project.
<br /> Extend project budgets above what the Bond could support on its own.
<br /> - Improve County debt metrics once county debt exceeds 15%of GF revenues
<br /> Once bond projects are done, support the districts'High Priority Deeds
<br /> ©RANGE COUNTY
<br /> 6 NC>RTI-r CAROLINA
<br /> 2
<br /> 3 Kirk Vaughn described how Pay-Go funds support the bond program by absorbing soft costs like
<br /> 4 design and project management, and noted that without Pay-Go,the current set of major projects would
<br /> 5 not be possible.
<br /> 6
<br /> 7 slide#7
<br /> Major Projects — Pay-Go Phase-in
<br /> To spread out tax burden,the Manager's Recommended CIP splits Pay-Go introduction into three steps,so
<br /> no increase is larger than 1 cent on the tax rate.
<br /> Last year's CIP had incremental increases to offset recommended phase-in, so total increases by$240k
<br /> years 5-9. Not increased in year 10 pending discussion
<br /> Use of Pay-Go By Project Year 1 Year2 Year3 Year4 Year 5 Year6 Year7 YearEl Yearg r Ten
<br /> i 212 t 2029-30 rt r- 1 1 t2035-36 Year
<br /> Total
<br /> CS Major Projects Z500.00C 500.000 4,000.00 5.468.70. 2 331.3CC 14,500,0
<br /> N.L.Stanback-HVAC Replacement 2,180,937 2,180,93
<br /> CS-Remaining Band and Pay-Gc 2,376,816 2,000,00C 569,51E 3.028,78f 3,007.947 6,060rOOC 17,066,064
<br /> rojects
<br /> HCCS Major Prejects 3.319,063 3.771,30 4 280,93 900,00C 12.271,3DO
<br /> HCCS-Remaining Bond and Pay-Go 6,121,164 5,000,00 567,76 6,250,48E 6,931,21 7,192,053 4,120,00. 36,462,69
<br /> rojects
<br /> ajorSchool consImctionProject 1,660,00 f.000.00 1,60%00 1,000,90 7,00000 1,000,OQ 9,000,00 1,000,00 7,00©-Lb 1,000,00 70,000.0
<br /> anagement -
<br /> otal 3,500,00 6,500,000 10,000,06 10,000,06 10,240,00 10,48G,000 10,720,000 10,960,000 11,200,00 11,200,00 94,900,00
<br /> ORANGE COUNTY
<br /> 7 NC7RTI S CA Rl7I.INA
<br /> 8
<br /> 9 Kirk Vaughn noted that the goal of the recommended Pay-Go phase-in is that there's no increase
<br /> 10 larger than a cent on the tax rate in any given year. He said a phase-in was applied to years five through
<br /> 11 nine of the plan but not to year 10, pending further discussion.
<br /> 12
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