HomeMy WebLinkAboutAgenda - 03-18-2002 - 3 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: March 18, 2002
Action Agenda
Item No. 3
SUBJECT: 2002-2012 Capital Investment Plan (CIP)
DEPARTMENT: Budget PUBLIC HEARING: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
2002-2012 Recommended CIP Donna Dean, ext 2151
(distributed prior to work session under
separate cover) TELEPHONE NUMBERS:
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 336-227-2031
PURPOSE: To receive a presentation of the recommended Capital Investment Plan for
FY 2002-2012.
BACKGROUND: Each year, the County Manager and staff update the County's ten-year
Capital Investment Plan (CIP). The CIP is a multi-year plan that addresses County and school
needs for long-lived assets. Items typically included in the CIP are construction, refurbishment,
or purchases of buildings; land acquisition or improvement; and major equipment and vehicle
acquisition and financing. This process offers an opportunity to review long-term capital needs
and enables timely acquisition and phased financing of major assets. The 2002-2012 CIP is
more comprehensive than those prepared in recent years. It incorporates not only projects to
be financed through normal pay-as-you-go revenue sources, but also integrates projects to be
funded fully or in part from $75 million bonds approved by voters in November 2001 and $37.7
million to be funded over the next five years through alternative financing mechanisms.
Staff will provide a PowerPoint presentation on significant aspects of the proposed 2002-2012
CIP at the March 18 work session and respond to any Commissioner comments or questions.
This presentation is intended to be `for information only "at this time - the Board is not expected
to make any decisions on project allocations at this meeting. In view of the comprehensive
nature of this CIP and the uncertain fiscal environment, the Board will likely need to consider
changes to the CIP during several work sessions over the next few months before formally
adopting the plan in June 2002.
The Manager recommends that the Commissioners formally establish the planned public
hearing date of April 2, 2002 to receive citizen comments on the CIP.
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FINANCIAL IMPACT: There is no direct financial impact from the presentation of the CIP.
However, the Board will make substantial allocation decisions, for both County and school
capital projects, involving millions of dollars later this spring. Board funding decisions for FY
2002-03 will be enacted through capital project ordinances that will be adopted in June 2002.
RECOMMENDATION(S): The Manager recommends that the Board receive the presentation
for information only at this time, and set a public hearing on the CIP for 7:30pm on Tuesday,
April 2, 2002 at the F. Gordon Battle Courtroom in Hillsborough.