AGENDA DATE: 6/1/2016
TITLE:
Title
Capital Improvement Program (CIP) General Obligation Bond Referendum Discussion.
BODY
SUBJECT/PROPOSAL/REQUEST: Presentation and discussion regarding adoption of an amended CIP and strategies for question development for a potential bond referendum
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Foley, Letteri, Catlin, Kamptner, Henry
PRESENTER (S): Trevor Henry
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: On March 8, 2016, during the FY17 Budget review work session, the Board of Supervisors directed staff to schedule a follow up discussion on the Capital Improvement Program (CIP) and the possibility of adding projects that could be included on a November 8, 2016 bond referendum coincident with the presidential election. Local Government and School staff presented information to the Board regarding the referendum process and potential additional projects at the May 4 and May 11 Board of Supervisors meetings. The Board directed staff to immediately schedule a meeting with the Planning Commission and the CIP Oversight Committee to review the School Board’s request to add projects and to provide feedback to the Board prior to its June 1 meeting. On June 1 the Board will consider amending the FY 2017-2021 CIP to include those additional projects requested by the School Board. The Board of Supervisors will also need to decide if, and to what extent, it would like to proceed with a November 2016 referendum.
STRATEGIC PLAN: To enhance the well-being and quality of life for all citizens through the provision of the highest level of public service consistent with the prudent use of public funds; and, to prioritize, plan and invest in critical infrastructure that responds to past and future changes and improves the capacity to serve community needs.
DISCUSSION: Based on legal and procedural considerations and the Board of Supervisors’ direction, the following timeline has been established for a potential 2016 bond referendum:
May 4: BOS work session on referendum process and projects
May 11: BOS work session on referendum projects
May 12: School Board formally requested, by resolution, that specific school projects be included
May 24: Public hearing held by PC on projects proposed to be added to an amended CIP
May 26: Meeting with CIP Oversight Committee on projects proposed to be added to an amended CIP
June 1: BOS adopts amended CIP and discusses question strategy
July 6: BOS approves referendum questions and adopts a resolution to request the Circuit Court to order a special election in November to conduct referendum
July: Circuit Court enters order for special election for purpose of conducting bond referendum
August - November: Public Education program
November 8: General election and special election for bond referendum questions
As directed by the Board of Supervisors, staff scheduled a meeting/public hearing with the Planning Commission and a meeting with the CIP Oversight Committee to review the School Board’s request to add projects to the adopted CIP and provide feedback to the Board. Due to the tight timing of these meetings and the Board of Supervisors’ June 1 meeting, feedback from these two sessions is not available for inclusion with this executive summary, but a written summary will be provided to the Board in advance of June 1. At the June 1 meeting, staff will ask the Board of Supervisors to take action on the adoption of the CIP with the additions requested by the School Board and will ask for preliminary guidance regarding the development of questions for a bond referendum if that is the direction of the Board of Supervisors.
BUDGET IMPACT: There is no direct budget impact related to this item; however, the adoption of an amended CIP with additional projects will have future budget and tax implications. If the Board elects to issue general obligation bonds after voter approval of the referendum, there will be some savings resulting from a more favorable interest rate.
RECOMMENDATION:
Recommendation
Staff recommends that the Board take action on the amended CIP. If the Board directs staff to proceed with planning for a referendum, staff recommends that the Board discuss options and provide preliminary direction regarding question development for a November 8, 2016 General Obligation Bond Referendum. The Board would need to approve referendum questions and adopt a resolution to request a special election in November to conduct a referendum during its July 6 meeting to meet the identified timeline.
ATTACHMENTS:
Attachment A - Summary Information of School Referendum Request
Attachment B - School Division Project Request Details