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CABARRUS COUNTY <br /> 1792 <br /> BOARD OF COMMISSIONERS <br /> REGULAR MEETING <br /> JANUARY 17, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Finance - CCS Funding Request for New High School Construction <br /> BRIEF SUMMARY: <br /> The Cabarrus County Schools (CCS) Board of Education is requesting the <br /> Board of Commissioners to fund a new high school. Land has been <br /> purchased and a portion of the architectural fees have already been <br /> approved by the BOC. The approximate cost of the school will be $71 .6 <br /> million (which includes land). <br /> County staff recommends paying cash for engineering, architectural, <br /> technology and furnishings, and borrowing funds for the construction and <br /> infrastructure items. The County estimates borrowing $59 million for this <br /> project. If the concept is approved by the Board, then an additional <br /> request has been made to fund $2,710,000 for the remaining architectural <br /> fees and $278,350 for a portion of the engineering expenses at this time. <br /> REQUESTED ACTION: <br /> Motion to approve the concept of funding a new high school. <br /> Motion to approve the budget amendment and project ordinances for the <br /> architectural fees and a portion of the engineering expenses for a new high <br /> school. <br /> EXPECTED LENGTH OF PRESENTATION: <br /> 5 Minutes <br /> SUBMITTED BY: <br /> G-3 Page 71 <br />