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0014 <br />Contract with the Sanford Area Growth Alliance — The Board discussed the terms of the <br />Contract for Economic Development Services with the Sanford Area Growth Alliance entered on <br />October 6, 2014. <br />Harnett and Chatham County Budgets for Economic Development — County Manager John <br />Crumpton presented a comparison of budgets and expenditures for economic development in <br />Harnett and Chatham County. <br />Duke LifePoint/EMS Services — Central Carolina Community Hospital/Duke Life Point CEO <br />John Maxwell presented information regarding the hospital's EMS services including associated <br />revenue and expenditures. The County budgeted $551,250.00 for EMS services in FY 2017. The <br />hospital is seeking additional funding sources and options to address a current annual loss of <br />approximately $200,000.00. <br />Manned Convenience Center Operations/Decal Program/Litter Control — Solid Waste <br />Superintendent Joe Cherry presented information regarding a proposed decal program which <br />would serve to prevent unauthorized use of convenience centers. General Services Director <br />Russell Spivey answered questions regarding concerns about roadside litter issues throughout the <br />County. <br />Bond Ratings — County Manager John Crumpton announced that Lee County's bond rating <br />has been upgraded to a AA rating with S & P Global Ratings and is expected to be a Aa2 with <br />Moody's Investor Services as well. He further stated that with upcoming sale of the bonds for the <br />Central Carolina Community College projects, this is good news and should help us get a good <br />interest rate. <br />Central Carolina Community College Proiects — There are two remaining issues the County <br />is currently exploring options for addressing: <br />1. Paying for the move of the dental department to the new building. The cost of the move <br />is estimated at $400,000.00. <br />2. Rerouting Kelly Drive in front of the Community College <br />Financial Planning for New Elementary School — Following the unanimous vote of the <br />School Board, the property that currently hosts the location of the former WB Wicker Elementary <br />School has been acquired for the purpose of building a new elementary school with a capacity to <br />host 900 students. The plan is to have the school ready by August 2019. The estimated cost for <br />the purchase of the land, purchase of the building, and construction is estimated at <br />$27,750,000.00. Options for addressing this expense were discussed which include the potential <br />for limited obligation bonds or bond referendum. <br />Property Tax Revaluation — North Carolina General Statute § 105-286 mandates a <br />reappraisal of property at least every eight years. However, the Board of Commissioners has opted <br />under North Carolina General Statute § 105-286(a)(2) to use a four year revaluation cycle. Our last <br />revaluation was effective January 1, 2013. On December 15, 2014, the Board of Commissioners <br />adopted a resolution moving the next reappraisal from January 1, 2017 to January 1, 2019. <br />According to County Manager John Crumpton, Tax Administrator Mary Yow recommends <br />proceeding the with reappraisal in January 2019 and continuing with a four year schedule with the <br />next reappraisal occurring in 2023. <br />Page 314 <br />