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TY <br />,L-E E Committed Today for allBetter Tomorrow <br />ITEM: I. A. <br />NG DATE: July 9, 2007 <br />MEMO TO COMMISSIONERS: <br />FROM: Gaynell Lee, Clerk to the Board <br />DATE: July 2, 2007 <br />001 <br />SUBJECT: Request from Central Carolina Community College for Additional Funding <br />11 <br />EXPLANATION: <br />O Central Carolina Community College has accepted'llbids for the construction of the Emergency <br />Services Training Center located at the old Lee County Airport. A low bid of $1,999,900 was <br />received by Construction Systems, Inc. of Fayetteville. The college has a deficit of $92,173 and <br />would like approval from the Commissioners to takelthis amount from accrued interest since the <br />project was delayed. <br />Finance Director Lisa Minter has stated that due to the delay of the project, interest in excess of <br />$200,000 has been earned on the appropriated funds held by the County. It is her <br />recommendation that the Board approve $92,173 of accrued interest to Central Carolina <br />Community College so the project may be completed. <br />RECOMMENDATION: <br />Approve request from Central Carolina Community College to use $92,173 of accrued interest <br />to complete the Emergency Services Training Center project. <br />ATTACHMENTS: <br />- June 29, 2007 memo from Ms. Lisa Minte <br />- June 25, 2007 letter from Dr. Matt Garreti <br />- Attachment A - Background Information; <br />- Bid tabulation sheets <br />0 <br />