HomeMy WebLinkAboutAgenda - 08-31-2006-1ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: August 31, 2006
Action Agenda
Item No. 1
SUBJECT: Capital and Debt Related Matters
DEPARTMENT: Budget PUBLIC HEARING: (Y /N) No
ATTACHMENT (S):
INFORMATION CONTACT:
Attachments 1A through 1C. Donna Dean Coffey, Budget Director
Fiscal Year 2006 -07 Planned Projects (919) 245 -2151
for Chapel Hill Carrboro City Schools,
Orange County Schools and Orange
County
Attachment 2. County and School
Capital Projects Requiring Debt Funding
Attachments 3A through 3D.
Annual Debt Service Capacity Based on 9,
7, 5 and 3% Annual General Fund
Increase
Attachment 4. Current Building
Construction Projects — Project Highlights
as of August 31, 2006 (County Projects
only)
Attachment 5. Senate Bill 2009
PURPOSE: To review updates and analysis provided by staff regarding various
aspects of County and School capital projects and debt - related matters, and to
provide appropriate direction to staff on how to proceed further on these matters.
BACKGROUND: The Board approved the County's 2006 -07 Fiscal Year budget on
June 27, 2006 along with a handful of School capital project ordinances. The Board
also noted that there were a number of capital and debt related matters that
Commissioners preferred to discuss further at a fall 2006 work session. Examples
of items that the Board requested additional information included the County's
current and future debt capacity, affordability of County and school projects that are
either under - funded or unfunded, the County's capital funding policy, and the
anticipated impact of Lottery proceeds on the County's capital funding policy.
A. Approval of Fiscal Year 2006 -07 School and County Capital Project
Ordinances
The 2006 -16 Manager's Recommended Capital Investment Plan (CIP) presented
to the Board in April 2006 included long -range funding recommendations for
funding School and County capital projects. To that end, Commissioners
approved some Level 1 school capital projects for fiscal year 2006.07 on June
27, 2006 and delayed action on other school and County capital projects until fall
2006. Examples of deferred County projects include roofing, painting and
information technology project for the County and
a variety of renovation projects for the schools. The Board and other readers
may find Section 2 of Attachments 1A through 1C (shaded areas) of this
agenda abstract a helpful resource during the work session discussion.
As a point of clarification, in accordance with the Board of Commissioners the
Board of County Commissioners November 2001 defines project "levels" as
follows:
• Level 1 projects are those that involve a relatively small scope of work —
thereby allowing the Commissioners to approve the entire project
ordinance at one time.
Level 2 projects are major projects that require several phases to
complete. For these projects the Board of County Commissioners
approves a four -phase appropriation process to include:
o Concept/Pre- Planning Phase - includes preliminary programming
and design work that would result in conceptual drawings and
preliminary cost estimates.
o Planning Phase — includes siting and infrastructure
o Design and Construction Approval Phase — includes final design,
equipment, furnishings, non - recurring start up cost, technology and
contingency
o Final Accounting Phase — Upon completion of the project, school
and county staff will reconcile actual project expenditures with
approved budget and provide the BOCC with a "final accounting" of
the project.
Many of the Level 1 capital project ordinances approved by the Board in June did
not involve new funding appropriations but merely extended the project timelines
through June 30, 2006. Other projects received new funding for the current fiscal
3
year. Both school systems have requested Commissioner approval of the
remaining Level 1 projects that the Board deferred in June.
As stated earlier, approval of Level 2 projects, those projects that require several
phases to complete, will be requested at the appropriate times in accordance
with the Board's adopted School Planning and Funding Policy over the life of the
major project. Examples of Level 2 projects include CHCCS Elementary #10,
Staff plans to include approval of remaining School and County capital project
ordinances for fiscal year 2006 -07 on the September 12, 2006 agenda unless the
Board directs otherwise during the August 31 work session.
B. Analysis of Future Debt Affordability and Staff Updates on County and
School Capital Projects
Orange County Commissioners along with both local school boards face a
number of future capital and operating needs in order to provide quality services
and learning environments to our citizens. During the County's 2006 -07 budget
and capital planning work sessions this past spring, Commissioners discussed a
variety of projects that would go a long way in meeting those school and County
needs. Examples of those needs include completion of two state of the art senior
centers, construction of new elementary, middle and high schools in our two
school districts, and provision of sanitary water and sewer services to citizens
located in the Efland /Buckhorn areas of the County. Attachment 2 of this
agenda abstract, County and School Projects Requiring Debt Funding,
offers a list of projects discussed by the Board this past spring.
As discussions continued throughout the spring, it became clear that the amount
of funding required to meet the identified capital needs would require the County
to assume debt above and beyond the amount currently programmed and
endorsed by Commissioners. To that end, the Board instructed staff to analyze
how the identified needs may or may not fit within the County's current debt
management policy of maintaining annual debt payments within the Board's
adopted debt management policy. The adopted Board policy states that annual
debt service payments are to be equivalent to or less than 15 percent of the
County's total annual General Fund budget.
Over the summer, County staff has worked with Local Government Commission
(LGC) staff, County Bond Counsel, Robert Jessup, and County Attorney, Geofrey
Gledhill among others to analyze options that would enable the County to
maximize resources while still adhering to the 15 percent debt capacity policy
limitation. It is important to note that the affordability of future debt depends on
several variables such as the annual increase in the County's approved General
Fund budget along with the amount of money borrowed and interest rate
obtained with each debt issuance. Staff has run various analyses based on
these variables including a range of the amount of debt that Commissioners
might consider should the County's General Fund increase at annual percentage
r
rates of 9, 7, 5 and 3 percent. Staff has also considered the anticipated tax rate
impact of future debt issuances and included that information in the attachments
of this agenda abstract. Staff has provided charts and graphs related to those
analyses:
• Attachment 3A - Annual Debt Service Capacity Based on
9% Annual Increase in County's General Fund
• Attachment 3B - Annual Debt Service Capacity Based on
7% Annual Increase in County's General Fund
• Attachment 3C - Annual Debt Service Capacity Based on
5% Annual Increase in County's General Fund
• Attachment 3D - Annual Debt Service Capacity Based on
3% Annual Increase in County's General Fund
While Cornrnissioners may find the format of the chart and graph attachments to
be familiar, the County's Budget Director, Donna Dean Coffey plans to offer the
audience additional details related to the analyses during the work session on
August 31, 2006. In addition, County and School staffs will be available to
update the Board on projects such as Central Orange Senior Center and
SportsPlex addition, sustainable building features at the Durham Technical
Community College Satellite Campus, and CHCCS Elementary #10.
Attachment 4 of this abstract, Current Building Construction Projects —
Project Highlights as of August 31, 2006 provides a brief update for County
projects only.
During the August 31 work session discussion, staff recommends that the Board
begin to prioritize County and School capital needs based on the information
presented. The Board may find it helpful to view Attachment 2 of this agenda
abstract (County and School Capital Projects Requiring Debt Funding) as a guide
in discussing capital funding priorities.
In addition to affordability and tax rate impacts of future debt, another important
factor for the Board to consider as we plan for new projects is the annual cost to
open and operate those facilities. Staff will be prepared to discuss operating
impacts during the August 31 and subsequent work sessions.
C. Other Considerations Related to Funding School Capital Projects
Recent action taken by the General Assembly this summer provides a new
funding alternative for Commissioners and School Boards to consider as they
construct new schools. Senate Bill 2009 (Attachment 4 of this agenda
abstract), signed into law by the Governor on August 12, 2006, offers a number
of non - traditional alternatives for constructing new schools. Robert Jessup, the
County's Bond Counsel plans to review Senate Bill 2009 with the Board and
respond to questions during the August 31, 2006 work session.
5
D. Next Steps
During the August 31 work session, it would be helpful for Commissioners to
offer guidance and observations related to County and School projects
particularly with regard to those projects that require debt financing beyond the
amounts currently programmed and endorsed by the Board. In addition to
project affordability, there are other capital funding related items such as the
County's Capital Funding Policy including the handling of anticipated Education
Lottery proceeds and School Construction Standards that the Board may wish to
discuss at a future work session.
Information regarding the State's Education Lottery has slowly emerged over the
summer months. In addition, two upcoming events may offer additional
information and clarity to what we can expect from the Lottery. The first event is
the NC Association of County Commissioners annual conference — one of the
workshop topics planned for the conference is "The Ins and Outs of the
Education Lottery' The Budget Director plans to attend the workshop to gather
additional Lottery related information. Another important Lottery related date
centers around October 1, 2006 — that is the date that Counties across the state
expect the first allotment of Education Lottery proceeds.
On another note, the Board approved capital project for Carrboro High School
totals $35,442,000. Construction of Carrboro High School is underway, and cash
flow needs continue to increase. To that end, staff plans to request Board
approval for a short-term third -party financing arrangement for six to nine months
totaling $9 million at the September 12 regular Commissioners meeting. As with
short-term financing for the SportsPlex purchase, the short-term financing
arrangement would be replaced by a longer term debt issuance planned in spring
2007.
FINANCIAL IMPACT: Financial impacts are included in the background
information above.
RECOMMENDATION (S): The Manager recommends that the Board of County
Commissioners receive the information.
Attachment 1A - Chapel Hill - Carrboro City Schools
Fiscal Year 2006 -07 Planned Projects
C
I otal 5zo,zua,46i $i,077,663 $v yJ,D7 I,UJO .��
0
Project
Funding Prior
to FY 2006 -07
2006 -07 Funding Source
Total Project
Funding
PAYG
2001 Bonds
Alternative
Financin
Section 1. Project Ordinances Approved by BOCC on June 27, 2006.
1
ADA
$338,150
$10,000
$0
$0
$348,150
2
Classroom /Building Improvements
$745,000
$0
$0
$0
$745,000
3
Doors, Hardware and Canopies
$435,000
$32,563
$0
$17,437
$485,000
4
Elementary #10
$0
$0
$0
$900,000
$900,000
4
Energy Efficiency and Lighting Improvements
$251,316
$0
$0
$0
$251,316
5
Indoor Air Quality Improvements
$230,000
$25,000
$0
$0
$255,000
6
Paving and Parking Lot Repairs
$1,026,590
$0
$0
$0
$1,026,590
7
Technology
$11,007,502
$1,010,000
$0
$0
$12,017,502
Section 2. Project Ordinances to Plan for Approval by the BOCC on September 12, 2006
8
Abatement Projects
$260,000
$0
$0
$60,000
$320,000
9
Athletic Facilities & Playgrounds
$1,567,387
$0
$0
$855,000
$2,422,387'
10
Electrical Systems
$125,000
- $0
$0
$20,000
$145,000
11
Fire, Safety and Security Systems
$1,221,900
$0
$0
$89,659
$1,311,559
12
Mechanical Systems P
$3,680,490
$0
$0
$100,000
$3,780,490
13'
Mobile Classrooms and Rental Space
$1,450,000
$0
$0
$110,000
$1,560,000
14
Roofing Projects
$2,867,126
i $0
$0
$1,520,000
$4,387,126
15
Window Replacements
$0
$0
$0
$305,000
$305,000`
I otal 5zo,zua,46i $i,077,663 $v yJ,D7 I,UJO .��
0
Attachment 1B - Orange County Schools
Fiscal Year 2006 -07 Planned Projects
B C D
Total $41,371,314 $1,377,665 $0 yv
0:J
A
Project
Funding Prior
to FY 2006 -07
2006 -07 Funding Source
Total Project
Funding
PAYG
2001 Bonds
Alternative
Financin
Section 1. Project Ordinances Approved by BOCC on June 27, 2006,
1
Alternative School
$600,000
$0
$0
$0
$600,000
2
Asbestos Removal
$487,225
$0
$0
$0
$487,225
3
Bus Garage
$25,000
$0
$0
$0
$25,000
4
Cameron Park Renovation
$270,000
$0
$0
$0
$270,000
Central Office Renovation
$0
$0
$0
$0
$0
6
r
Efland Cheeks Renovation
$517,000
$0
$0
$0
$517,000
75
Energy Management Systems
$552,800
$0
$0
$0
$552,800
8
Environmental Testing
$142,604
$0
$0
$0
$142,604
9
Flooring Replacements
$409,000
$0
$0
$0
$409,000
10
Grady Brown Renovations
$116,000
$0
$0
$0
$116,000
11
Gravelly Hill Middle School
$22,060,000
$802,000
$0
$0
$22,862,000
12
Handicapped Accessibility
$670,000
$0
$0
$0
$670,000
13
Indoor Air Quality Improvements
$14,000
$0
$0
$0
$14,000
14
Kitchen Projects
$405,000
$0
$0
$0
$405;000
15
Playground Surfacing
$140,000
$0
$0
$0
$140,000
16
Roofing Projects
t7$7101:2290L:�$O
$0
$1,012,290
Section 2. Project Ordinances to Plan for Approval by the BOCC on September 12, 2006
Central Elementary Renovation
$190,000
$9,000
$0'
$0
$199,000
r21
C.W. Stanford Renovation
$1,840,000
$52,000
$0'
$0
$1,892,000
22
Electrical Service Upgrades
$620,000
$15,000
$0!
$0
$635,000
23
HVAC Replacements and Repairs
$272,395
$100,865
$0'!
$0
$373,260
24
Orange High Renovations
$1,928,000
$171,800
$0
$0
$2,099,800
25
Technology
$9,100,000
$227,000
$0
$0
$9,327,000
Total $41,371,314 $1,377,665 $0 yv
0:J
Attachment 1C - Orange County Local Government
Fiscal Year 2006 -07 Planned Projects
B C D E
1
Project
Funding Prior
to FY 2006 -07
2006.07 Funding Source
Total Project
/
Funding
PAYG
2001 Bonds
Alternative
Financin
Section 1. Project Ordinances Approved by BOCC on June 27, 2006.
1
Affordable Housing
$4,700,000
$0
$0
$0
$4,700,000
2
Animal Services Facility
$870,000
$0
$0
$0
$870,000
3
Animal Shelter (Current Facility)
$29,000
$0
$0
$0
$29,000
4
Cate Farm
$125,000
$0
$0
$0
$125,000
5
Central /Northern Orange Senior Centers
$2,000,000
$0
$0
$0
$2,000,000
6
Compressed Natural Gas (CNG) Fueling Station
$111,465
$0
$0
$0
$111,465
7
Energy Management Systems
$552,800
$0
$0
$0
$552,800
8
Court Street Annex/112 N Churton Street Repairs
$25,000
$0
$0
$0
$25,000
9
Dickson House
$7,500
$0
$0
$0
$7,500
10
Efland Cheeks Park Development (Phase 2)
$250,000
$0
$0
$0
$250,000
11
Efland Sewer Extension Project
$4,505,000
$0
$0
$0
$4,505,000
12
Elevator Repairs and Improvements
$70,000
$0
$0
$0
$70,000
13
Emergency Management/911 Facility (located on
New Hope Road) Repairs
$315,000
$0
$0
$0
$315,000
14
Fairview Park Development
$850,000
$0
$0
$0
$850,000
15
Farmers Market
$90,000
$0
$0
$0
$90,000
16
Historic Courthouse Repairs
$44,637
$0
$0
$0
$44,637
17
Homestead Community Center Repairs
$90,000
$0
$0
$0
$90,000
18
Meadowlands Annex Purchase and Renovations
$1,885,000
$0
$0
$0
$1,885,000
19
Medicaid Maximization Funds for Health
Department Capital
$1,069,661
$0
$0
$0
$1,069,661
20
New Courthouse Repairs
$190,000
$0
$0
$0
$190,000
21
Northern Human Services Center Repairs
$566,630
$0
$0
$0
$566,630
22
Northern Human Services Park
$1,200,000
$0
$0
$0
$1,200,000
23
Orange County Satellite Campus of Durham
Community College
$1,000,000
$0
$0
$3,000,000
$4,000,000
24
River Park
$50,000
$0
$0
$0
$50,000
25
Smith Middle School Park Lighting
$250,000
$0
$0
$0
$250,000
26
Southern Community Park
$2,795,000
$0
$0
$0
$2,795,000
1
Attachment 1C - Orange County Local Government
Fiscal Year 2006 -07 Planned Projects
n
FT
A
Project
���
°
Funding Prior
to FY 2006 -07
2006 -07 Funding Source
Total Project
Funding
PAYG
2001 Bonds
Alternative
Financing
27
Southern Orange Senior Center
�
$6,150,000
$0
$0
$0
$6,150,000
28
Twin Creeks Park Development
$1,850,000
$0
$0
$0
$1,850,000
29
Waterproofing and Draignage
$71,000
$0
$0
$0
$71,000
30
West 10 Soccer Complex
$1,700,000
$0
$0
$0
$1,700,000
Section 2. Project Ordinances to Plan for Approval by the BOCC on September 12, 2006
31
Americans With Disabilities Act
$50,000
$50,000
$0'
$0
$100,000'
32
Assessments and Testing
$25,000
$10,000
$0.
$0
$35,000
33
Blackwood Farm
$75,000
$50,000
$0
$0
$125,000
34
Building Entry Access Control Systems
$50,000
$25,000
$0
$0
$75,000`
'
35
36
Capital Repairs /Replacement (Emergency)
Reserve Fund
Conservation Easements
$25,000
$4,861,681
$50,000
$150,000
$0
$0,
$0
$0
$75,000
$5,011,681
37
Couty Facilities Arts Reserve
$5,000
$5,000
$0,
$0
$10,000
38
Emergency Communications `
$0
$100,000
$0,
$0
$100,000
39
Emergency Power Sources
$152,000
$50,000
$0
$0
$202,000'
40
Employee Parking
$0
$50,000
$0
$0
$50,000'
41
Equipment and Vehicle Replacements
$4,903,700
$1,400,000
$0
$0
$6,303,700
42
Fire Alarm Systems
$15,000
$15,000
$0
$0
$310,000r
43
Flooring Replacements
$241,000
$125,000
$0
$0
$366,000
44
Homestead Aquatics Center
$1,125,000
$0
$2,000 000
$0
$3,125,000
45
HVAC Replacements
$293,000
$300,000
$0
$0
$593,000
46
Information Technology
$1,225,000
$800,000
$0
$0
$2,025,000
47
Jail Renovations :
$625,000
$50,000
$0
$0
1 $675,000
48
Joint Town- County Open Space /Greenways
$750,000
$0
$575,000
$0
$1,325,000
49
Justice Facility and New Courthouse Renovations
$330,000
$0
$0
$10,200,000
$10,530,000
50
Lake Michael Park
$0
$25,000
$0
$0
$25,000
51
Lands Legacy
$14,686,577
$0
$0
$1,750,000
$16,436,577
52
Masonry Repairs
$0
$10,000
$0
so 1 $10,000
a
Attachment 1 C - Orange County Local Government
Fiscal Year 2006 -07 Planned Projects
C n
Total $64,855,664 $4,295,000 $2,575,000 $14,950,000 $86,675,664
Project
Funding Prior
to FY 2006 -07
2006 -07 Funding Source
Total Project
Funding
PAYG
2001 Bonds
Alternative
Financin
53
Millhouse Road Park
$0
$50,000
$0
$0
`. $50,000
54
Orange Enterprises
$625,000
$100,000
$0
$0
$725,000
55
Orange High School Tennis Court Resurfacing
$0
$50,000
$0
$0
$50,000
56'
Painting (Interior and Exterior) of Facilities
$27,000
$125,000
$0
$0
$152,000
57=
Parking Lot Repairs /Paving
$140,000
$100,000
$0
$0
$240,000
58
Recreation and Parks Capital Maintenance
$0
$25,000
$0
$0
$25,000
59.
Register of Deeds Automation
$628,181
$50,000
$0
c $0
$678,181
60
Roofing Projects
$359,832
$250,000
$0
$0
$609,832
61
Signage
$10,000
$10,000
$0,
$0
$20,000
62
Solid Waset Convenience Centers
$40,000
$100,000
$0
$0
$140,000
63
Southern Human Services Center
$0
$50,000
$0
$0
$50,000
64:
Utiliites Demand Reduction Systems and
Equipment
$60,000
$70,000
$0
"$0
$130,000
65
Utilites Exension Development
$115,000
$50,000
$0
$0
$165,000
Total $64,855,664 $4,295,000 $2,575,000 $14,950,000 $86,675,664
EL
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• Attachment 3A — Annual Debt Service Capacity Assuming 9% Annual
Increase in County's General Fund Budget
• Attachment 3B — Annual Debt Service Capacity Assuming 7% Annual
Increase in County's General Fund Budget
• Attachment 3C - Annual Debt Service Capacity Assuming 5% Annual
Increase in County's General Fund Budget
• Attachment 3D - Annual Debt Service Capacity Assuming 3% Annual
Increase in County's General Fund Budget
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Project Highlights as of August 310
2006
Orange County
Current Building Construction Projects
Project Highlights as of August gi, 2006
Justice Facility Expansion
Anticipated construction commencement: Spring 2007
Status:
• Interior programming is being finalized for the Justice Facilities
Expansion, which includes the Sheriffs office, the Clerk of Courts, District
Court offices, District Attorney and Courtrooms.
• The plan is currently under review by the Hillsborough Historic District
Commission. The Commission reviewed the project in June and in August
and offered comments, to which the architects have provided response. The
Commission has held special meetings for the sole purpose of reviewing this
significant project. A September meeting may be scheduled, assuming the
architectural work required by the HDC comments can be accomplished in
a timely manner.
• The HDC will also review the River Park and Public Market portion of the
project at the next meeting.
• Tentatively receipt of bids is anticipated early in 2007.
• The project has an 18 -24 month construction period, including renovation
work that must be accomplished in the existing building.
Seymour Senior Center
Anticipated completion date: January 25, 2007
Status:
• A request by the contractor for an extension of time for weather is being
evaluated. Approximately ten inches of rain fell at the construction site
during the month of June. Although the contractor pumped water away
from the site to minimize the disruption, critical construction time was lost.
As a result, the placement of the slab and retaining wall backfill was delayed
by about four weeks. Resolute Building Company (RBC) is working to make
up the lost time. Steel erection was begun in mid - August.
• Teledata design and programming has been completed and will be bid
soon. This item is an owner responsibility and is not included in the
contract with RBC.
Central Orange Senior Center
Anticipated construction commencement: early -2o07
• Programming of the Senior Center was completed and approved by the
planning committee in the Spring 2006, with the exception of the kitchen
facilities, which will be finalized by a sub - committee within the next few
weeks.
• In June 2006, the Board approved the design of the Senior Center, the
Adult Day Health Center, as well as a plan for replacing space for Sportsplex
operations that was lost to the Senior Center project, subject to
affordability. The presentation on August 31, 2006 will address
affordability.
• The Board will be asked to consider a contract for a Construction Manager
at Risk on this project within the next two months. Project details and
pricing are currently underway through Corley Redfoot Zack, the project
designers.
Animal Services Facility
Anticipated construction completion: Fall 2009
• On August 22, 2006, County Commissioners approved action allowing the
County to close on the property immediately, rather than after the
regulatory approvals have been received, as originally stated in the purchase
agreement.
• The University and County have met to discuss the impact of the
remediation efforts of the hazardous waste site, adjacent to the existing
Animal Shelter. The University will allow the Shelter to remain operational
during the remediation effort, although several site accommodations will be
required. Examples include:
o Relocation of the existing access road;
o Additional monitoring equipment associated with the remediation
will be located on the Shelter site.
• Town and County staffs have met to discuss the need to move the project
along as quickly as possible.
• The Town of Chapel Hill has approved this project for expedited review.
• Preliminary work for the regulatory process has commenced. For example,
stream determination, has been conducted and submitted to the Town.
• Interviews for a project architect are scheduled for September 13 and will
be brought forward for Board consideration as quickly thereafter as
practicable.
Z
Durham Technical Community College Satellite Campus
Anticipated construction completion: December 2007
Favorable bids were received by Durham Technical Community College
(DTCC) on June 29, 20o6.
County Commissioners are considering funding sustainable design
elements in the amount of $4o8,9oo, plus a 125 -space park- and -ride lot in
the amount of $341,000 (total $749,9oo), subject to affordability.
o Two options were considered to fund the sustainable design
elements and the park and ride lot: the existing project budget and
a grant program that provides additional funds to Community
College building project statewide. These grant funds are awarded
on a 50/50 match basis.
Review by DTCC of the existing budget reflects that no funding is
available from that source. DTCC will however, submit a grant for
$375,000 that would cover 50% of the amount needed for the
sustainable design /park and ride portions of the project.
Additional information will be presented during August 31, 20o6
worksession.
• Bid prices for the sustainable design elements will be held by the successful
low bidder for 90 -days from bid date (September 27, 2oo6).
.3
SL2006 -0232
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2005
SESSION LAW 2006 -232
SENATE BILL 2009
AN ACT TO ALLOW CAPITAL LEASE FINANCING FOR PUBLIC SCHOOLS,
The General Assembly of North Carolina enacts:
Page 1 of 5
SECTION 1. Article 37 of Chapter 115C is amended by adding a new section to
read:
"& 115C- 53�1.�Ca�ital leases of�school b dings andischool fac�'ilities.
(j) Capital lease. — A capital lease as defined by eg nerall�pted accounting
principles regardless of how the parties describe the agreement.
Private devetloper — The entity with which the school board enters into a
capital lease or build -to -suit lease under the provisions of this section.
(b) Authorization. — Local boards of education may enter into capital leases of real or
personal property for use as school buildings or school facilities. The capital lease may relate to
an existing building or a new school building to be constructed. The term of any capital lease
includinan renewal eriods shall not exceed 40 years from the expected date that the local
board of education will take occupancy of the propertythat is the subject of a capital lease.
Subdivision s_(c) and (d) of G.S.
115C -521 do not appl�o
a capital
lease entered into under this
section.
L � --
developer is not subject to the requirements of Article 8 of Chapter 143 of the General Statutes.
Construction repair or renovation work undertaken or contracted by the private developer
involving the estimated expenditure of three hundred thousand dollars ($300,000) or more is
subiect to the provisions of G.S. 115C -532.
(4) Nonsubstitution Clause. — A capital lease may not contain a nonsubstitution clause
that restricts the right of a local board to continue to provide a service or activLpf or to replace or
provide a substitute for any mmerty_financed
or purchased
by the capital lease.
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provided however, notwithstanding any provision of G.S. 115C- 441(cl) or G.S. 115C -426, in
each fiscal year the
p so priation of funds by the coup for the payment of amounts due under
the capital lease shall be at the discretion of the board o county coininissioners.
(g) Local Government Coininission Approval. — Capital leases entered into under this
section are subiect to approval by the Local Government Commission under Article 8 of Chapter
159 of the General Statutes if then meet the standards set out in G.S. 159- 148(a)(1), 159- 148(a)
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products services and guaranties related to a facility that is the subject of a capital lease;
provided all agreements are approved by the board of county commissioners in connection with
the approval of the build -to -suit cap- ital lease.
(c) Approval by Local Boar of Education — Before entering into a build -to -suit ca >i tal
lease pursuant to this section the local board of education shall adopt a resolution as provided in
this subsection. Before adopting the resolution required by this subsection the local board of
education shall publish a notice of its intent to enter into a build -to -suit capital lease at least 10
days in advance of the date of the meeting at which the action is contemplated and in a
newspaper having general circulation within the geographic area served by the local board of
educa tion. The notice shall include at a mninimumn, the date time and place of the meeting, a
descr iption in brief and general terms of the subject of the lease the name of the other pa to
the lease and arm indication of the board's intent to take action to authorize the lease at the
indicated meeting. The resolution
shall
provide the
followine:
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buildings or facilities is in the unit's best interests under all the circumstances.
In making this evaluation the local hoard of education may consider the tine,
cost, and quality of desirm en ing eerin and construction mcludmg the tune
required to begm and the time required to complete a particular _a(jtxvjW
occupancy costs including lease payments life -cycle maintenance, repair, and
....M• --A n n +4,n.• tha hnarA ApPmc rPiOVnm
That tkme private developer is qualified to provide either alone or in
conjunction with other identified and associated persons, the products and
services called for under the proposed capital lease and any related agreements.
The local board of education shall make this determination talon:? into account
an•' factors the local
board deems
relevant
including the
knowledge, skill,
and
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SL2006 -0232 Page .3 or 5
L%J 1111. r.111VU11. LL,`, N VL l v Lieu uvaa a aaau.a v. -- 1 —
contractors. The prequalification criteria if any, shall be determined the
local board of education and the private developer to address quali
performance the time specified in the bids for performance of the contract the
cost of construction oversight, time for completion, capacity to perform, and
L2
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The local board of education shall require the private developer to submit its
plan for compliance with G.S. 143 -128.2 for approval by the local board of
education prior to the private developer soliciting bids under this subsection.
A private developer or its construction manager at risk shall publicly advertise
at least 30 days m advance of the bid date m a newspaper having General
circulation within the eeoaraphic areas served by the local board of education
shall open bids publicly and shall award each contract to the lowest
responsible, responsive and pregualified bidder taking into consideration
quali erformance, the time specified in the bids for performance of the
contract the cost of construction oversight time for completion, compliance
with G S 143 -128.2 and any other factors deemed appropriate by the private
developer and the local board of education and included m the bid solicitation.
A private developer or its construction manager at risk shall enter into the
construction contracts directly with the successful bidder. After the award of a
contract or contracts, the private developer or its construction manager at risk
and any contractor ma negotiate and
reach
agreement with the successful
bidder
on modifications to all aspects of the contract including the time for
performance, the scope of the wor c, and the price to be paid.
The local board of education in its discretion may require the private
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J LLVVV-VL�L 1 arj � V1 l
"(e) Exceptions. — The requirements of this Article do not apply to:
SECTION 3. This act is effective when it becomes law and is repealed effective July
1, 2011.
In the General Assembly read three times and ratified this the 18t" day of July, 2006.
s/ Beverly E. Perdue
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ Michael F. Easley
Governor
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SL2006 -0232 Page 5 of 5
Approved 2:00 p.m. this 12th day of August, 2006
anent (also available in PDF and RTF forniats) is not an o icial document.
Please read the NCGA Web Site disclain¢er, for nsore information.
littp: / /www.ncleg. net / Sessions/ 2005Bills /Senate/HTML /S2009v4.html 8/21/2006