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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 2, 1998 <br />Action Agenda <br />Item No. G~_b <br />SUBJECT: 1998-2008 Capital Investment Plan (CIP) Adoption <br />DEPARTMENT: County ManagerBudget PUBLIC HEARING: (Y/N) <br />BUDGET AMENDMENT: (Y/1~ <br />ATTACHMENT(S): <br />1998-2008 CIP (previously distributed) <br />1998-2008 County Project Allocations <br />Spreadsheet <br />"~ INFORMATION CONTACT: <br />Rod Visser, ext 2300 <br />Donna Dean, ext 2150 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 227-2031 <br />PURPOSE: To consider adoption of the 1998-2008 Capital Investment Plan. <br />BACKGROUND: On March 17, 1998, the County Manager presented the recommended 1998- <br />2008 Capital Investment Plan to the Board of County Commissioners. At its Apri17, 1998 meeting, <br />the Board conducted a public hearing and heard citizen comments regarding the proposed plan. At <br />its meeting on Apri121, 1998, the Boazd held further discussion about the CIP and identified <br />additional information needed to facilitate final deliberations about the CIP. At the May 6, 1998 <br />meeting, the Board discussed the possibility of including funding for implementation of the PACE <br />program to promote farmland preservation. <br />At the May 19 meeting, the Board approved the allocation of $100,000 for farmland preservation, <br />held in reserve in the 1998-1999 CIP, pending adoption of a conservation easement program <br />specific to Orange County. The Board also approved a decision to proceed with a $4.8 million <br />private placement loan to carry out major renovations at the Whiffed and Northern Human Services <br />Centers, and to replace the Chapel Hill Senior Center. The Board indicated its intention to discuss <br />at its next meeting the options available for funding the debt service on that private placement loan. <br />The 1998-2008 CIP was compiled based on the assumption that the 1 cent on the countywide tax <br />rate earmarked for the schools/parks capital reserve since 1995-96 would be reallocated to <br />underwrite County projects, beginning in 1999-2000. By the end of 1998-99, staff estimates that <br />over a four year period, almost $2.4 million in tax receipts acid investment earnings will have <br />accrued in this reserve, which would remain intact and available for land purchases as originally <br />intended. The Board has discussed continuing the 1 cent earmarking, which would require <br />reductions in some of the project allocations included in the recommended CIP for the years 1999- <br />