BC 2005 06 07 RECESSED - Laserfiche WebLink

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June 7, 2005 - Recessed Meeting Page 215 Daily Membership) calculation. look for items in its Current Capi tal. He suggested that Kannapolis City Schools Expense budget that could be shifted to UPON MOTION of Vice Chairman Carruth, seconded by Commissioner Privette and unanimously carried, the Board granted interim approval of the budget for Kannapolis City Schools as recommended by the County Manager pending final approval following the public hearing on June 14; and agreed to continue to look for ways to resolve the disparity in the ADM funding allocation. At 5:08 P.M., the Board took a short break. 5:18 p.m. The meeting reconvened at Condemnation Process for the Acquisition of Land (Quay I< Stratton Property) for the New High School (HiCkory Ridge High School) and Related Budget Amendment for the Additional $721,000.00 Funding Requirement At its June 6th Work Session, the Board discussed the condemnation process for the acquisition of land for the new Hickory Ridge High School and a related budget amendment for the $721,000.00 funding requirement. The property totaled 107.13 acres, including 104.979~ acres owned by Mr. and Mrs. Lloyd L. Quay, Jr., and 2.16~ acres owned by Mr. and Mrs. George F. Stratton, Jr. vice Chairman Carruth made a motion to approve the acquisition of the identified real estate for "Hickory Ridge High School" and the related funding requirement of an additional $721,000.00 to enable the issuance of the funds for the purchase of the property by condemnation and approving the related budget amendment. Chairman Carpenter seconded the motion. Commissioner Privette made a substitute motion to approve condemnation procedures for the 67 acres needed for the school. Commissioner Freeman seconded the substitute motion. There was brief discussion concerning the following issues: the use of bond money for the land purchase, including the greenway property; and the purchase price would be same whether the 67 acres were purchased for the high school or the 107 acres were purchased for the high school and the greenway. Liz Poole, Chairman of the Cabarrus County School Board, reported the appraisal was based on "good" land and floodplains. Buying only the "good" land, she said, would require a new survey and would delay the project and the school opening. The substitute motion failed voting for and Chairman Carpenter, Juba voting against. with Commissioners Freeman and Privette Vice Chairman Carruth and Commissioner UPON MOTION of Vice Chairman Carruth, seconded by Commissioner Juba with Chairman Carpenter, Vice Chairman Carruth and Commissioner Juba voting for and Commissioners Freeman and Privette voting against, the Board approved the acquisition of the identified real estate for "Hickory Ridge High School" and the related funding requirement of an additional $721,000.00 to enable the issuance of the funds for the purchase of the property by condemnation and approving the following budget amendment. BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE AMOUNT: $721,000.00 TYPE OF ADJUSTMENT: Supplemental PURPOSE OF REQUEST: An additional amount of $721,000.00 will be needed for Land Acquisition for the Hickory Ridge High School. The $721,000.00 will be funded through interest earnings on the $98 million General Obligation Bonds. Account No. 36397323-9801 Land Acquisition 36360000-6702 Interest on Investments Present Approved Budget $2,500,000.00 Increase $721,000.00 Decrease Revised Budget $3,221,000.00 $0.00 $721,000.00 $721,000.00 Cabarrus County Schools Dr. Harold Winkler, Superintendent, provided a brief overview of the budget requests for Cabarrus County Schools. He commented on growth