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<br /> 1 Slide#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()o $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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<br /> 3 Kirk Vaughn explained that pay-go is essential to the bond program because there is not enough
<br /> 4 bond money to do the projects without it.
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<br /> 6 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 M/year 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 Needs
<br /> ORANGE COUNTY
<br /> 6 NORTH CAROLINA
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