Orange County NC Website
2 <br />Per Board approved Capital Funding Policy, Commissioners have chosen to have PSBCF <br />monies offset school related debt service. In order to receive the monies, County <br />Commissioners and Boards of Education must submit approved applications for funds. The <br />attached application requests the State to release $1,095,278 for Orange County to offset debt <br />service Cedar Ridge High School. Staff anticipates the Orange County Schools Board of <br />Education to approve the application at one of their December 2008 meetings. <br />NC Education Lottery Funds <br />In August 2005, the NC General Assembly approved the NC Education Lottery. Per the <br />County's Capital Funding Policy, Commissioners have agreed to allow each school district to <br />use Lottery proceeds for renovation projects. As with the PSBCF monies, these monies are <br />released to local entities on a reimbursement basis, and County Commissioners and Boards of <br />Education must submit approved funding applications. <br />The attached applications request the State to release funds to cover costs of the following <br />renovations: <br />• Chapel Hill Carrboro City Schools (CHCCS) Conversion of Lincoln Center Pottery <br />Shop - $624,202 <br />• CHCCS Elementary #11 Planning and Design - $974,000 <br />• Orange County Schools (OCS) Science Lab Infrastructure Upgrades - $250,000 <br />• OCS CW Stanford Middle School HVAC Renovation - $450,000 <br />Staff anticipates both Boards of Education to approve their respective applications at one of <br />their December 2008 meetings. <br />FINANCIAL IMPACT: The total amount being requested from the State is $3,393,480. This <br />includes $1,095,278 in PSBF monies and $2,298,202 in Lottery proceeds. <br />• PSBF -The County's approved FY 2008-09 Annual Operating Budget anticipates <br />$1,450,000 in PSBF revenues. As outlined above, the request for reimbursement of <br />Cedar Ridge debt totals $1,095,278 leaving $354,722 yet to be requested from the State. <br />Staff plans to submit an additional PSBF funding request in February 2009 after debt <br />payments for other school related projects are actually paid. <br />Lottery Funds - Monies requested will reimburse the following projects: <br />o Chapel Hill Carrboro City Schools (CHCCS) Conversion of Lincoln Center Pottery <br />Shop - $624,202 <br />o CHCCS Elementary #11 Planning and Design - $974,000 <br />o Orange County Schools (OCS) Science Lab Infrastructure Upgrades - $250,000 <br />o OCS CW Stanford Middle School HVAC Renovation - $450,000 <br />RECOMMENDATION (S): The Manager recommends the Board of County Commissioners <br />approve, and authorize the Chair to sign, the applications for Public School Building Capital <br />Funds and NC Education Lottery proceeds. <br />