Orange County, North Carolina -- Notice of Public Hearing: Financing for Various Public Improvements and Acquisitions
The Board of Commissioners of Orange County, North Carolina, will hold a public hearing on Tuesday, May 1, 2018, at 7 p.m. (or as soon thereafter as the matter may be heard). The purpose of the hearing is to take public comment concerning a proposed financing contract, under which the County would borrow approximately $8,150,000 to finance a wide variety of acquisitions and improvements, including the following:
|Project Description||Estimated Amount|
|Environmental Agricultural Center Building||$394,500|
|Government Services Annex Building||$350,000|
|IT Government Council Initiatives||$344,493|
|Cedar Grove Community Center||$75,000|
|Facility Accessibility and Security Improvements||$30,000|
|Miscellaneous County equipment||$184,000|
|Chapel Hill HS Architecture and Facility Improvements||$601,000|
|Classroom and Building Improvements (OCS)||$254,000|
|Food Services (OCS)||$145,000|
|Passmore Center Renovations||$550,000|
|IT Broadband Connectivity||$60,000|
|IT Governance Council Initiatives||$346,010|
|911 Center Improvements||$117,832|
|Cedar Grove Park, Phase II||$60,000|
|Parks and Recreation Facility Renovations||$195,000|
|Affordable Housing Land Banking||$293,000|
|TOTAL ESTIMATED PROJECT COSTS||$7,950,793|
The County also expects to use some financing proceeds to pay financing costs.
The hearing will be held in the Commissioners’ usual meeting room in the Whitted Human Services Center, 300 West Tryon Street, Hillsborough, North Carolina.
The proposed financing would be secured by a lien on some or all of the property to be acquired or improved with the financing proceeds, as well as the County’s promise to repay the financing, but there would be no recourse against the County or its property (other than the pledged property) if there were a default on the financing. The County expect the financing will be secured by a lien on the Orange County Sportsplex property or the County’s Government Services Annex building (located at 208 South Cameron Street in Hillsborough) and related property.
All interested persons will be heard. The County’s plans are subject to change based on the comments received at the public hearing and the Board’s subsequent discussion and consideration. The County’s entering into the financing is subject to obtaining approval from the North Carolina Local Government Commission.
Persons wishing to make written comments in advance of the hearing or wishing more information concerning the subject of the hearing may contact Gary Donaldson, Orange County Finance Officer, Finance Officer, Post Office Box 8181, Hillsborough, NC 27278 (telephone 919/245-2453, email email@example.com).