County commissioners to discuss ag center progress
By Steve Herring
Published in News on June 6, 2016 1:46 PM
Wayne County Manager George Wood Tuesday morning will update Wayne County commissioners on plans to finance the Maxwell Regional Agricultural and Convention Center and a new 911 call center.
In a related matter, the board will recognize AgCarolina Farm Credit for its $50,000 donation to the agricultural center.
Commissioners have said they want to break ground on that center this month.
The meeting will begin with an agenda briefing at 8 a.m. followed by the formal session at 9 a.m. Both will be held in the commissioners' meeting room on the fourth floor of the Wayne County Courthouse Annex.
Wood earlier told the board that by fiscal year 2020 the county's annual debt service payment would decrease by $1.7 million, growing to $2.2 million the following year.
"We would issue the debt for the Maxwell Regional Agricultural and Convention Center in January, 2017," Wood said in a memo to the board. "Until then, we would use existing funds to cash flow the project. Bear in mind the board of commissioners has already adopted a resolution to reimburse itself from the debt issue. The first debt service payment would then be July, 2017, which is in fiscal year 2018. We only need to bridge fiscal year 2018 and fiscal year 2019 in order to get to an annual savings of $1,714,445 in fiscal year 2020.
"The estimated issue for the Maxwell Regional and Agricultural Center is $11,000,000. Financing level principal payments on $11,000,000 for 20 years at 3.5 percent annual interest would require debt service payments of $935,000 in fiscal year 2018. Thereafter, the interest payments would decline by $19,250 each year."
Those two years of savings nearly would replenish the fund balance used in 2018 and 2019 for the two projects, Wood said.
The 911 center is expected to cost $3 million just for the building. The equipment will cost another $2 million.
The money for equipment will come from existing 911 Funds on hand, as well as a reallocation of funds from the State 911 Fund.
The debt service on $3,000,000 would start at $255,000 annually, and would decline by $5,250 annually. Again, that is based on a 3.5 percent interest rate.
The board will hold four public hearings Tuesday, including one on the county's proposed budget, beginning at 9:30 a.m.
The other hearings are for:
* the county's 2011 Community Development Block Grant Catalyst Project completion of activities and closeout of grant.
* the county's 2011 Community Development Block Grant Scattered Site Project completion of activities and closeout of grant.
* a request to rezone .65 of an acre in Fork Township from Residential Agriculture 20 to Community Shopping.
In other business, commissioners will be asked to approve:
* an updated Wayne Executive Jetport Transportation Improvement Plan for fiscal years 2017-2021.
* a resolution authorizing reallocation of the county's Qualified Energy Conservation Bond allocation to the state.
The board also will hear presentations on the county's quarterly financial statement and for the Wayne County Tourism Development Authority.
Under unfinished business, the board will consider approving the county's 2016 comprehensive transportation plan. The plan assists governments in the county with making transportation decisions over the next 25 to 30 years.
Commissioners also will be asked to recess again the public hearing originally recessed on April 19 on street assessments in the Canterbury Village and North Creek subdivisions.
That hearing had been recessed to June 21 to allow a county-retained engineer to complete a report of the estimated cost for the work.
Wood will ask that the hearing be recessed again, this time to July 19 to allow for more time to complete the study.
Consent agenda items include: a petition to add Braswell Road, Eagle Scout Place, Tenderfoot Circle and Strike Eagle Run to the North Carolina Department of Transportation State Maintenance System; establish a meeting of the Wayne County Board of Adjustment for 9:30 a.m. on July 5 to allow public comments on a special use request for a proposed solar facility, Jester Solar, LLC, at 2002 Millers Chapel Road; application for Present Use Value for Donna H. Ward; and budget amendments
The public comments portion of the meeting will start at 9:15 a.m. Those who want to speak must sign in at least 10 minutes prior to the start of the 9 a.m. session.
Comments are limited to four minutes for agenda items and two minutes for non-agenda items.
Commissioners will have lunch with the facilities services staff at noon at 804-C Corporate Drive.