Secondary and Cumulative Impacts Master Management Plan - 2014

introduction FY2014

Investment Projects to pursue funding in future budgets. FY2014 Capital Budget or debt service does activate funding for a previously approved 2004 GO Bond RTP Park Capital Investment Project. Additionally, because of the 2012 Bond Referendum the LRFM plans for three newly activated Capital Investment Projects:

Center and completing Phase II of the Morrisville Community Park

On November 6, 2012, the voters approved the 2 Bond Referendums authorizing the issurance of up to $20M in general obligation bonds. A total of 80% (6,228 votes) voted for the Street Improvement Bonds and 74% (5,757 votes) voted for the Parks and Recreational Bonds. These projects are now considered Activated Projects as a Funding Source has been identified. Staff has begun planning for the execution and future construction of these projects with the FY2014 Annual Budget.

$14.3M in Street Improvement Bonds; Completing the McCrimmon Parkway Extension from NC54 to Evans Road

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$5.7M in Parks & Recreation Bonds; Renovating the Morrisville Aquatics & Fitness

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The LRFM assumes a 2 year span from Project Year (design) to the first year of Debt Service. The timing of construction bids, Bond Sale (Issuance) and construction may vary depending on the progression of each step between fiscal years. The following represents an assumed timeline for the purposes of planning and evaluation.

•FY2014 Sale $4M Bonds - Debt Service Begins •FY2014 Begin Construction

2004 RTP Parks

•FY2014 General Fund Transfers $1.2M Design & Easement Cost •FY2014 Two Cent Tax Rate Increase •FY2015 Construction Bids •FY2016 Sale $14.3M Bonds - Debt Service Begins •FY2016 Reimburse General Fund 1/2 Design Cost $600M •FY2016 General Fund Fronts $612K Design Cost •FY2016 Another Two Cent Tax Rate Increase •FY2017 Construction Bids •FY2018 Sale $5.7M Bonds - Debt Service Begins •FY2018 Reimburse General Fund 1/2 Design Cost $306K

2012 NC54 Bypass

2012 Parks

NOTE: Council and Staff will evaluate the feasibility of shifting the 2012 bond park projects forward.

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