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<br /> 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 Needs
<br /> ORANGE COUNTY
<br /> 6 NORTH CAROLINA
<br /> Kirk Vaughn described how Pay-Go funds support the bond program by absorbing soft costs like
<br /> design and project management, and noted that without Pay-Go, the current set of major projects
<br /> would not be possible.
<br /> 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 Year 2 Year 3 Year 4 Year 5 Year6 Year7 YearB Year9 Ten Year
<br /> i i r r r r r r i r205-36 Total
<br /> CS Major Projects 2.500 OOC 600.0IX 4,000.00 5.468.700 2 331,30C 14.800001
<br /> L.Stanback-HVAC Replacement 2,180,937 2,160,93
<br /> CS-Remaining Bond and Pay-Gc 2,878,81 2,000,00 W9.51E 3.028,786 3,C07,947 6,090.00C 17,066,064
<br /> rojects
<br /> HCCS Major Projects 3,319,063 3,771.300 4280,937 900,00C 12.271,30
<br /> HCCS-Remaining Bond and Pay-Go 6,121,164 5,000,00 867,76 8,250,48E 6,931,214 7,192,063 4,120,OOC 38,462,69
<br /> Projects
<br /> Major School ConstructionProject 1.000.60 t_o00.00 1,000,00 1,000,00 ", ,O,,00 P_000,00 9,000.00 t000,00 7,000,00 1pD0,00 10,000,0
<br /> anegement
<br /> TOM 3,500,00 6,500,00 10,000,00 10,000,00 10,240,00 10,480,00 10,720,00 10,960,00 11,200,00 11,200,00 94,800,00
<br /> 7 ORAN GE COUN-Y
<br /> rZC)Kirk Vaughn noted that the goal of the recommended Pay-Go phase-in is that there's no
<br /> increase larger than a cent on the tax rate in any given year. He said a phase-in was applied to years five
<br /> through nine of the plan but not to year 10, pending further discussion.
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