|
56
<br /> Slide#4
<br /> Major Projects — Projects and Sequencing
<br /> rr , 032-33
<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 /> Design Construction Close Out
<br /> p.147-48 Renovation Scope
<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 ORANGE COUNTY
<br /> 4 NORTH CAROLINA
<br /> Kirk Vaughn presented the sequencing of projects by district, explaining that the county
<br /> attempted to borrow within the first seven years of the referendum, noting there is a possibility of a
<br /> three-year extension with the Local Government Commission. He explained that once funds are
<br /> borrowed, they must be drawn down with actual expenses within three years, and that the county tried
<br /> to ensure projects were fairly allocated between the two districts so neither had to wait
<br /> disproportionately.
<br /> 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 1 000 000 $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
<br />
|