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Current Information / Projections for Moore County Presented by: Tim Lea Moore County Commissioner September 2011.

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Presentation on theme: "Current Information / Projections for Moore County Presented by: Tim Lea Moore County Commissioner September 2011."— Presentation transcript:

1 Current Information / Projections for Moore County Presented by: Tim Lea Moore County Commissioner September 2011

2 Overview of Presentation County Financial Information County Financial Information Update on Capital Projects Update on Capital Projects Public Safety / Detention Center Public Safety / Detention Center Government Administration Building Government Administration Building Courts Facility Courts Facility Moore County Public Schools Moore County Public Schools Update on Other Projects Update on Other Projects Water Projects Water Projects Heart of North Carolina MegaSite Heart of North Carolina MegaSite

3 County Financials Existing Debt Service Existing Debt Service Capital Improvement Projects & Capital Improvement Projects & Projected Costs Revenues and Expenditures Revenues and Expenditures Tax Collection Rate Tax Collection Rate

4 Existing Debt Service (Annually) *In , the County refinanced Moore County Schools debt that shows as a principal payment for auditing purposes.

5 General Government Debt on June 30, 2007 General Government Debt Balance Principal as of June 30, 2007 Interest as of June 30, 2007 Total as of June 30, 2007 Interest Rate Original Principal MCS GO Debt Series 2003 $ 5,165,216 $ 2,036,086 $ 7,201, % $ 6,000,000 MCS GO Debt Series 1998 $ 13,224,000 $ 3,618,892 $ 16,842, % $ 19,000,000 SCC GO Debt Series 2003 $ 4,734,784 $ 1,866,414 $ 6,601, % $ 5,500,000 SCC GO Debt Series 1998 $ 4,176,000 $ 1,142,808 $ 5,318, % $ 6,000,000 Jail Expansion $ 1,215,000 $ 129,675 $ 1,344, % $ 4,690,000 Airport Hangars $ 14,322 $ 233 $ 14, % $ 270,000 Airport T-Hangers $ 182,252 $ 14,901 $ 197, % $ 450,000 Middle School Financing 1996 $ 2,744,804 $ 246,926 $ 2,991, % $ 8,500,000 Middle School Financing 1997 $ 3,558,999 $ 320,173 $ 3,879, % $ 9,900,000 DSS Carriage Oak Building Renovations $ 2,312,667 $ 460,930 $ 2,773, % $ 3,800,000 Animal Shelter $ 282,800 $ 25,007 $ 307, % $ 700,000 Roll-off Trucks $ 125,433 $ 9,573 $ 135, % $ 160,128 Total General Govt. Debt Service $ 37,736,277 $ 9,871,618 $ 47,607,895

6 Utilities Debt on June 30, 2007 Utility Debt Balance Principal as of June 30, 2007 Interest as of June 30, 2007 Total as of June 30, 2007 Interest Rate Original Principal East Moore Water District Phase 1 $ 1,736,500 $ 1,713,983 $ 3,450, % $ 1,797,000 Seven Lakes Water $ 412,427 $ 34,646 $ 447, % $ 1,550,000 Pinehurst Water $ 2,541,314 $ 405,137 $ 2,946, % $ 5,900,000 Cannon Park Water Tower $ 630,867 $ 163,578 $ 794, % $ 850,000 Public Utilities Office $ 254,467 $ 13,477 $ 267, % $ 900,000 Total Utility Fund Debt $ 5,575,575 $ 2,330,821 $ 7,906,396

7 Total Debt on June 30, 2007 General Government $47,607,895 General Government $47,607,895 Utilities$ 7,906,306 Utilities$ 7,906,306 Total$55,514,201 Total$55,514,201

8 Existing General Government Debt General Government Debt Balance Principal as of June 30, 2011 Interest as of June 30, 2011 Total as of June 30, 2011 Interest Rate Original Principal MCS GO Debt Series 2003 $ 4,330,434 $ 1,246,695 $ 5,577, % $ 6,000,000 MCS GO Debt Series 2008 $ 30,200,000 $ 13,270,740 $ 43,470, % $ 32,000,000 MCS GO Debt Series 2009 $ 21,052,889 $ 9,342,760 $ 30,395, % $ 22,000,000 MCS Refunding Debt Series 2009 $ 7,881,200 $ 708,738 $ 8,589, % $ 10,678,000 SCC GO Debt Series 2003 $ 3,969,566 $ 1,142,805 $ 5,112, % $ 5,500,000 SCC GO Debt Series 2008 $ 7,550,000 $ 3,317,685 $ 10,867, % $ 8,000,000 SCC GO Debt Series 2009 $ 7,177,111 $ 3,185,027 $ 10,362, % $ 7,500,000 SCC Refunding Debt Series 2009 $ 2,488,800 $ 223,812 $ 2,712, % $ 3,372,000 Public Safety Complex/Detention $ 29,830,000 $ 11,196,838 $ 41,026, % $ 29,830,000 Roll-off Trucks 2011 $ 244,376 $ 13,718 $ 258, % $ 244,376 IT Equipment $ 24,808 $ 274 $ 25, % $ 181,126 Total General Govt. Debt Service $ 114,749,184 $ 43,649,092 $ 158,398,276

9 Existing Utilities Debt Utility Debt Balance Principal as of June 30, 2011 Interest as of June 30, 2011 Total as of June 30, 2011 Interest Rate Original Principal East Moore Water District Phase 1 $ 1,642,500 $ 1,407,533 $ 3,050, % $ 1,797,000 East Moore Water District Phase 2 $ 7,576,000 $ 7,728,308 $ 15,304, % $ 7,661,000 Pinehurst Area Utility Projects $ 8,590,000 $ 4,594,406 $ 13,184, % $ 8,590,000 Pinehurst Water $ 1,070,762 $ 65,253 $ 1,136, % $ 5,900,000 Cannon Park Water Tower $ 415,438 $ 65,382 $ 480, % $ 850,000 WPCP Revolving Loan* $ 20,000,000 $ 20,000,000 $ 4,007,100 $ 4,007,100 $ 24,007,100 $ 24,007, % $ 20,000,000 $ 20,000,000 EMWD Phase 3* $ 3,760,000 $ 3,760,000 $ 3,064,088 $ 3,064,088 $ 6,824,088 $ 6,824, % $ 3,760,000 $ 3,760,000 Total Utility Fund Debt $ 43,054,700 $ 20,932,069 $ 63,986,769 *Debt Issued Fiscal Year

10 Total Existing Debt On June 30, 2011 On June 30, 2011 General Government$158,398,276 General Government$158,398,276 Utilities $ 33,155,582 Utilities $ 33,155,582 Total$191,553,858 Total$191,553,858 On August 1, 2011 On August 1, 2011 General Government $158,398,276 General Government $158,398,276 Utilities*$ 63,986,769 Utilities*$ 63,986,769 Total$222,385,045 Total$222,385,045 *Includes WPCP Upgrade and EMWD Phase 3

11 Debt Service Balances *Debt Issued Fiscal Year **Debt to be issued at close of project Principal InterestTotal As of 6/30/00 $ 57,511,231 $ 21,543,860 $ 79,055,091 As of 6/30/01 $ 59,000,459 $ 20,641,035 $ 79,641,494 As of 6/30/02 $ 55,306,612 $ 17,507,491 $ 72,814,103 As of 6/30/03 $ 63,905,185 $ 22,611,693 $ 86,516,878 As of 6/30/04 $ 58,648,427 $ 19,653,293 $ 78,301,720 As of 6/30/05 $ 53,181,906 $ 16,638,889 $ 69,820,795 As of 6/30/06 $ 48,302,095 $ 14,338,148 $ 62,640,243 As of 6/30/07 $ 43,311,852 $ 12,202,439 $ 55,514,291 As of 6/30/08 $ 87,448,199 $ 32,140,669 $ 119,588,868 As of 6/30/09 $ 111,112,105 $ 50,276,568 $ 161,388,673 As of 6/30/10 $ 104,204,055 $ 45,947,502 $ 150,151,557 As of 6/30/11 $ 134,043,884 $ 57,509,973 $ 191,553,857 WPCP Upgrade* $ 20,000,000 $ 4,007,100 $ 24,007,100 EMWD Phase III** $ 3,760,000 $ 3,064,088 $ 6,824,088 Current Estimate $ 157,803,884 $ 64,581,161 $ 222,385,045

12 Debt Service Balances

13 Debt Balance Comparison Total Debt Total Debt On June 30, 2007$ 55,514,291 On June 30, 2007$ 55,514,291 August, 2011 $222,385,045 August, 2011 $222,385,045 Difference$166,870,754 Difference$166,870,754 $195 million of the Countys $222 million debt service obligations are attributed to the following projects: GO Bonds for MCS and SCC in 2008 & 2009 ($95 Million Remaining) Public Safety Complex/Detention Center ($41 Million Remaining) Pinehurst Utility Projects ($13 Million Remaining) East Moore Water District Phases 2 and 3 ($22 Million Remaining) Water Pollution Control Plant Upgrade ($24 Million Remaining)

14 Capital Reserve Fund Running Balance DateCapital Reserve Fund Debits/CreditsActualRunning balance 8/14/2008Transfer from GF$1,895,910 5/20/2009Transfer from GF$6,718,062$8,613,972 6/3/2009Transfer to Capital Reserve Fund-$1,981,200$6,632,772 6/30/2009Interest Earned$10,278$6,643,050 8/5/2009Transfer from GF$3,202,389$9,845,439 8/5/2009Transfer from WPCP$1,327,568$11,173,007 2/22/2010Transfer to IT - ERP Project-$1,634,445$9,538,562 2/22/2010Transfer to GF for School Bond Debt-$2,730,840$6,807,722 6/30/2010Interest Earned$11,035$6,818,757 9/30/2010Transfer from WPCP$1,616,478$8,435,235 10/11/2010Transfer to GF-$2,000,000$6,435,235 1/31/2011Transfer from GF to Cap Reserve 15% over$6,629,011$13,064,246 1/31/2011County Facility Expansion A/E Fees$1,403,364$14,467,610 1/31/2011Transfer to GF-$181,666$14,285,944 1/31/2011Transfer to Capital Reserve Debt-$6,248,783$8,037,161 1/31/2011Transfer to Capital Reserve Enterprise-$2,944,046$5,093,115 5/31/2011Transfer to Capital Reserve Fund$4,000,000$9,093,115 6/9/2011Transfer to GF to Pay off Debts-$1,374,529$7,718,586

15 Capital Reserve Fund Balances Governmental Projects - $7,718,586 Governmental Projects - $7,718,586 Debt Service - $4,448,783 Debt Service - $4,448,783 Includes a $1,800,000 decrease to pay for debt service in FY Includes a $1,800,000 decrease to pay for debt service in FY Enterprise Funds - $4,560,524 Enterprise Funds - $4,560,524 Includes $1,616,478 increase budgeted in FY Includes $1,616,478 increase budgeted in FY

16 General Fund Revenues Budgeted for Fiscal Year 2012

17 General Fund Expenditures Budgeted for Fiscal Year 2012

18 Total Expenditures Includes all expenses, including internal service funds, where the County was its own customer. *Estimated**Budgeted

19 TAX VALUE AND COLLECTION DATA YEAR INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,473,833,391 $11,668,028,506 $11,696,128,000 $11,852,093,247 COUNTY GENERAL COLLECTED $23,810,243 $26,997,890 $28,690,476 $30,225,195 $36,018,760 $36,892,447 $37,025,099 $38,442,260 $49,573,897 $54,564,249 $53,938,563 $54,236,496 $53,423,438 Projected for 6/30/12 RATE/$

20 TAX VALUE AND ADVANCED LIFE SUPPORT (ALS) COLLECTION DATA YEAR INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,421,020,996 $11,668,028,506 $11,696,128,000 $11,852,093,247 ALS COLLECTED $2,428,325 $2,555,974 $2,633,835 $2,768,613 $3,039,999 $3,103,273 $3,246,937 $3,376,115 $3,367,067 $2,867,348 $2,333,975 $2,202,481 $2,297,780 Projected 6/30/12 RATE/$

21 TAX VALUE AND FIRE COLLECTION DATA YEAR INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,421,020,996 $11,668,028,506 $11,690,128,000 $11,852,093,247 FIRE DISTRICT COLLECTED $1,879,665 $1,960,374 $2,049,473 $2,204,028 $2,336,556 $2,363,852 $2,571,182 $2,736,384 $3,367,531 $3,467,176 $3,393,104 $2,865,223 $3,128,294 Projected 6/30/12

22 FIRE DISTRICT TAX VALUE AND COLLECTION DATA DISTRICT ABERDEEN CARTHAGE CRAINS CRK CRESTLINE CYPRESS POINTE EAGLE SPRGS EASTWOOD HIGHFALLS PINEBLUFF PINEHURST ROBBINS 7 LAKES S. PINES WEST END WESTMOORE WHISPERING PINES PROJECTED COLLECTIONS $46,774 $232,632 $112,495 $74,457 $609,126 $163,671 $146,843 $98,523 $174,892 $144,795 $156,825 $259,213 $466,816 $246,582 $122,313 $72,340 INITIAL VALUE $51,060,000 $352,500,000 $102,890,000 $88,930,000 $782,787,000 $213,030,000 $212,970,000 $151,550,000 $199,500,000 $175,000,000 $261,005,000 $657,900,000 $532,500,000 $424,300,000 $174,895,000 $126,623,000 RATE TOTAL: $3,128,294

23 TAX VALUE AND COLLECTION DATA IMPACT OF REVALUATION ON VALUES YEARREAL VALUE% INC TOTAL VALUE % INC $4,509,241,865 $6,568,126,065 $5,584,765,367 $7,621,293, % 36.4% $7,320,824,701 $9,963,358,595 $8,524,636,576 $11,188,555, %31.2% ESTIMATED PROJECTIONS FOR TOTAL VALUE $11,852,093,247 TOTAL REVENUE PROJECTION $53,423,438 RATE 0.465/$100

24 Tax Collection Rate

25 Moore County Tax Rate Comparison

26 Tax Rate Information Value of 1 penny on the tax rate is estimated to be $1,148,891 Value of 1 penny on the tax rate is estimated to be $1,148,891 This is based on the value, collection rate, discount offered and taken, and interest for late payment This is based on the value, collection rate, discount offered and taken, and interest for late payment 79 of the 100 NC counties have a higher tax rate than Moore County 79 of the 100 NC counties have a higher tax rate than Moore County

27 Tax Rate Comparison Surrounding Counties

28 CountyTax RateTotal Value Scotland$0.9900$1,997,342,057 Cumberland$0.7400$21,334,340,980 Richmond$0.8100$2,950,861,321 Lee$0.7500$4,700,000,000 Harnett$0.7250$7,204,708,437 Hoke$0.7300$2,719,327,527 Montgomery$0.6700$2,292,620,620 Chatham$0.6219$8,800,000,000 Randolph$0.5860$10,100,000,000 Moore$0.4650$11,852,093,247

29 Capital Projects Under Consideration

30 Current Public Safety / Detention Center July 21, 2010 Bid Opening $27,224,000 (D.H. Griffin Construction) Limited Obligation Bond Financing Principal - $29,830,000 Interest - $12,006,413 Total - $41,836, ,000 Square Feet Detention Center (192 beds) E-911 Center Public Safety/Fire Marshal Sheriffs Department

31 Government Administration Building 5/17/10 – Board voted to not place this building on the Grimm property 5/17/10 – Board voted to not place this building on the Grimm property 5/17/10 – Board voted to not bid the government building at this time 5/17/10 – Board voted to not bid the government building at this time Latest Cost Estimate - $11,730,228 Latest Cost Estimate - $11,730,228 Includes $497,700 of design fees already paid Includes $497,700 of design fees already paid Does not include site work Does not include site work

32 Courts Facility 3/15/10 - Received a comprehensive space needs assessment from Solutions for Local Government 3/15/10 - Received a comprehensive space needs assessment from Solutions for Local Government Estimated Construction Cost: $21,886,200 Estimated Construction Cost: $21,886, ,700 gross square feet and 150 parking spots116,700 gross square feet and 150 parking spots

33 Other Future Major Capital Requests Moore County Schools Moore County Schools Modernization Projects $14,800,000 Modernization Projects $14,800,000 New High School - 35,000,000 New High School - 35,000,000 New Middle School - 18,000,000 New Middle School - 18,000,000 2 New Elementary Schools – 26,000,000 2 New Elementary Schools – 26,000,000 Elementary Addition - 4,000,000 Elementary Addition - 4,000,000 West End Elementary Sewer - 2,000,000 West End Elementary Sewer - 2,000,000 Total$99,800,000 The preceding information is listed in the Countys future Capital Improvement Project (CIP) and is not approved or funded The preceding information is listed in the Countys future Capital Improvement Project (CIP) and is not approved or funded

34 Current Water System Capital Improvement Projects Radio Read Meters 1,288,000 Radio Read Meters 1,288,000 SCADA Upgrades 163,000 SCADA Upgrades 163,000 2 New Wells in Pinehurst (3A, 6A) 370,700 2 New Wells in Pinehurst (3A, 6A) 370,700 East Moore Water District Phase 3 3,871,816 East Moore Water District Phase 3 3,871,816__________________________________________________ TOTAL $5,693,516

35 Current Sewer System Capital Improvement Projects Old Town Sewer Rehab $5,450,000 Old Town Sewer Rehab $5,450,000 2 Lift Station Permanent Generators 185,000 2 Lift Station Permanent Generators 185,000 ATEX Sewer Line and Lift Station 525,390 ATEX Sewer Line and Lift Station 525,390 Vass (Little River Regional Lift Station) 2,274,898 Vass (Little River Regional Lift Station) 2,274,898 __________________________________________________ TOTAL $8,435,288

36 Addor Water Pollution Control Plant Expansion Adds an additional 3.3 million gallons per day (mgd) capacity for a total capacity of 10 mgd Adds an additional 3.3 million gallons per day (mgd) capacity for a total capacity of 10 mgd Rehabilitates and modernizes the existing facility Rehabilitates and modernizes the existing facility Construction contract awarded July 19 Construction contract awarded July 19 Current Budget – $25,442,000 Current Budget – $25,442,000 $4,560,524 available in Capital Reserves $4,560,524 available in Capital Reserves $1.1 million in design costs already paid $1.1 million in design costs already paid $20 million planned loan at a 2.22% interest $20 million planned loan at a 2.22% interest

37 Current Purchase Water Capacities Southern Pines 1,000,000 GPD Southern Pines 1,000,000 GPD Aberdeen 600,000 GPD Aberdeen 600,000 GPD Chatham 300,000 GPD Chatham 300,000 GPD Harnett 2,000,000 GPD Harnett 2,000,000 GPD Current pipe capacity is 1,120,000 GPD Current pipe capacity is 1,120,000 GPD Robbins 100,000 GPD Robbins 100,000 GPD _____________ _____________ Total Current Water Cap. 4,000,000 GPD

38 Additional Water Purchase Contracts Under Consideration Chatham County Chatham County Harnett County Harnett County Lee County Lee County Montgomery County Montgomery County Randolph County (Asheboro) Randolph County (Asheboro) Robbins Robbins Scotland County (Laurinburg) Scotland County (Laurinburg)

39 Existing Water Sources Source Flow (MGD) Note Harnett County They are expanding their plant Pinehurst Wells Running 24 hours per day Southern Pines Hydraulically limited now, but with Midland Road waterline will be able to meet Aberdeen0.600 Hydraulically can provide 1.0 MGD Seven Lakes Wells Running 24 hours per day Subtotal7.074

40 Existing Water Sources Source Flow (MGD) Note Robbins0.05 Robbins purchases from Montgomery County Chatham County Purchased from Siler City Total7.149

41 Existing Population & Average Day Water Demand Population Water Connections Average Day Demand (MGD) EMWD (Phases 1 & 2) 3,2481, Vass Hyland Hills/Niagara Pinehurst14,0007, Seven Lakes 6,3652, Subtotal24,78212,

42 Existing Population & Average Day Water Demand Population Water Connections Average Day Demand MCPU Robbins High Falls The Carolina Addor Total24,99012,

43 Maximum Day Water Demand Maximum Day Demand (MGD) EMWD0.308 Vass0.114 Hyland Hills/Niagara Pinehurst3.954 Seven Lakes Subtotal5.292 Max day demand is approximately two times average day demand.

44 Maximum Day Water Demand Maximum Day Demand (MGD) MCPU Robbins High Falls The Carolina Addor0.033 Total5.352

45 Heart of North Carolina MegaPark A joint Project of Moore and Montgomery Counties

46 Heart of NC MegaPark Vision Long-term regional economic impact Long-term regional economic impact Strategic central location Strategic central location Large land tract Large land tract Landowners support Landowners support Joint collaboration between counties Joint collaboration between counties Eco-friendly development Eco-friendly development Quality of life amenities Quality of life amenities

47 Heart of NC MegaPark Regional Economic Impact 60 Minute Drive Time 60 Minute Drive Time 2010 Population – 646, Population – 646, Civilian Labor Force – 317, Civilian Labor Force – 317,875 Source: Site to Do Business,

48 Heart of NC MegaPark Strategic Central Location Easy access to East Coast markets Geographic Center of North Carolina

49 Heart of NC MegaPark Distances to Selected Cities Charlotte Winston -Salem Rockingham Greensboro Raleigh Fayetteville Pinehurst/Southern Pines

50 Heart of NC MegaPark MooreMontgomery US 220 NC 24/27

51 US 220 MontgomeryMoore

52 Heart of NC MegaPark Access Highways (Truck Travel Time) Highways (Truck Travel Time) Greensboro = 50 min. Greensboro = 50 min. Port of Charleston = 4 hrs. Port of Charleston = 4 hrs. Raleigh = 90 min. Raleigh = 90 min. Port of Morehead City = 4 hrs. Port of Morehead City = 4 hrs. Charlotte = 90 min. Charlotte = 90 min. Norfolk VA Port = 4 hrs. 50 min. Norfolk VA Port = 4 hrs. 50 min. Fayetteville = 90 min. Fayetteville = 90 min. Atlanta = 5 ½ hrs. Atlanta = 5 ½ hrs. Port of Wilmington = 3 hrs. Port of Wilmington = 3 hrs. Rail - Aberdeen Carolina and Western Railway Rail - Aberdeen Carolina and Western Railway Connects to CSX and Norfolk Southern Airports Airports Montgomery County Airport = 3 miles Moore County Airport = 33 miles Piedmont Triad International = 55 miles Raleigh Durham International = 88 miles Charlotte Douglas International = 80 miles

53 Heart of NC MegaPark Large Land Track Over 3,000 acres with some frontage on Interstate 73/74 Over 3,000 acres with some frontage on Interstate 73/74 Utilities: Utilities: Electricity - Progress Energy and Randolph EMC Electricity - Progress Energy and Randolph EMC Water - Montgomery County Water - Montgomery County Sewer - Town of Biscoe or on-site system Sewer - Town of Biscoe or on-site system Natural Gas - access within a mile radius Natural Gas - access within a mile radius Other Amenities: Other Amenities: Fiber Optics - CenturyLink Fiber Optics - CenturyLink HUBZone compliant HUBZone compliant Air Quality- Attainment area Air Quality- Attainment area

54 Heart of NC MegaPark Incentives Tier 1 = Maximum state incentives Tier 1 = Maximum state incentives Tier 1 status applies to entire site Tier 1 status applies to entire site $12,500 tax credit per new job $12,500 tax credit per new job 7% tax credit for investment in personal property 7% tax credit for investment in personal property

55 Heart of NC MegaPark Eco-Friendly Development Green & sustainable Green & sustainable Protect wetlands & wildlife habitats Protect wetlands & wildlife habitats Preserve natural aesthetics Preserve natural aesthetics Restrictive covenants Restrictive covenants Target industries supporting environmental sustainability Target industries supporting environmental sustainability

56 Heart of NC MegaPark Quality of Life Amenities Pinehurst/Southern Pines lifestyle Pinehurst/Southern Pines lifestyle Uwharrie National Forest Uwharrie National Forest Lake Tillery & Badin Lake Lake Tillery & Badin Lake North Carolina Zoo North Carolina Zoo Healthcare Healthcare Community Colleges Community Colleges

57 Heart of NC MegaPark Moore Countys Involvement 8/16/10 – Board approved resolution of support for an industrial mega site project in collaboration with Montgomery County Economic Development Corporation and the Montgomery County Board of Commissioners 8/16/10 – Board approved resolution of support for an industrial mega site project in collaboration with Montgomery County Economic Development Corporation and the Montgomery County Board of Commissioners Major property owners providing seed money – no County dollars involved Major property owners providing seed money – no County dollars involved

58 Heart of NC MegaPark Seed Funding Landowners: Landowners: Jordan Lumber Company $ 3,000 Jordan Lumber Company $ 3,000 Bobby Myrick 3,000 Bobby Myrick 3,000 Gus Shad 1,000 Gus Shad 1,000 Progress Energy 5,000 Progress Energy 5,000 Randolph Electric 7,500 Randolph Electric 7,500 NC Electric Membership Corp. 7,500 NC Electric Membership Corp. 7,500 Moore County Partners in Progress 50,000 Moore County Partners in Progress 50,000 Montgomery County EDC 50,000 Montgomery County EDC 50,000 First Bank 150,000 First Bank 150,000 Total Income as of 09/07/2011 $277,000 Total Income as of 09/07/2011 $277,000

59 Heart of NC MegaPark Joint County Collaboration Resolution of Support Resolution of Support Moore County Moore County Montgomery County Montgomery County Board of Directors Board of Directors Composed of members from both counties Composed of members from both counties

60 Heart of NC MegaPark Board Members Tim Lea – Chairman (Moore County Commissioner) Tim Lea – Chairman (Moore County Commissioner) Jim Matheny – Vice Chair (Montgomery Co. Commissioner) Jim Matheny – Vice Chair (Montgomery Co. Commissioner) Lance Metzler – Secretary (Montgomery Co. Manager) Lance Metzler – Secretary (Montgomery Co. Manager) Cary McSwain – Treasurer (Moore Co. Manager) Cary McSwain – Treasurer (Moore Co. Manager) Ray Ogden / Pat Corso – Co- Executive Director (Moore Co. Economic Developer) Ray Ogden / Pat Corso – Co- Executive Director (Moore Co. Economic Developer) Judy Stevens – Co-Executive Director (Montgomery Co. Economic Developer) Judy Stevens – Co-Executive Director (Montgomery Co. Economic Developer) Bob Jordan – Principal Landowner (Jordan Lumber Co.) Bob Jordan – Principal Landowner (Jordan Lumber Co.) Jay Carter, CEO – Dr. J.H. Carter III & Associates, Inc. Jay Carter, CEO – Dr. J.H. Carter III & Associates, Inc. Chuck Frock, President/CEO - FirstHealth of the Carolinas Chuck Frock, President/CEO - FirstHealth of the Carolinas John May, Partner - Robbins May & Rich LLP John May, Partner - Robbins May & Rich LLP Rob Menzies, Pres. - Aberdeen Carolina & Western RR Rob Menzies, Pres. - Aberdeen Carolina & Western RR Jerry Ocheltree, President/CEO - First Bank Jerry Ocheltree, President/CEO - First Bank Randy Brodd, Reg. Mgr. – Dixon Hughes Goodman LLP Randy Brodd, Reg. Mgr. – Dixon Hughes Goodman LLP Ginger Booker (Ex Officio), Interim Executive Director - Piedmont Triad Council of Governments Ginger Booker (Ex Officio), Interim Executive Director - Piedmont Triad Council of Governments Kirby Bowers (Ex Officio), Executive Director - Triangle J Council of Governments Kirby Bowers (Ex Officio), Executive Director - Triangle J Council of Governments

61 Heart of NC MegaPark Infrastructure Subcommittee Members Jim Matheny – Subcommittee Chair Jim Matheny – Subcommittee Chair Tim Lea Tim Lea Lance Metzler Lance Metzler Cary McSwain Cary McSwain Ray Ogden / Pat Corso Ray Ogden / Pat Corso Judy Stevens Judy Stevens Water & Sewer Water & Sewer Brant Sikes – Montgomery County Public Works Brant Sikes – Montgomery County Public Works Brooks Lockhart – Town of Biscoe Brooks Lockhart – Town of Biscoe Fred Hobbs & Bill Lester – Hobbs Upchurch & Assoc. Fred Hobbs & Bill Lester – Hobbs Upchurch & Assoc. Tim Lowder & Bob Froneberger – W.K. Dickson & Co. Tim Lowder & Bob Froneberger – W.K. Dickson & Co. Environmental Environmental Jay Carter - Dr. J.H. Carter III & Associates Power Power David McNeill – Progress Energy Natural Gas Natural Gas Bob McCune – Piedmont Natural Gas Roads Roads Travis Morgan – NC Department of Transportation Rail Rail Russ Smitley – Aberdeen Carolina & Western Railway Telecommunications Telecommunications Ken Topper – CenturyLink

62 Heart of NC MegaPark Other Potential Partners Randolph County Randolph County Three County Project Potential Three County Project Potential Asheboro Asheboro Water Provider Water Provider Grant Opportunities: Grant Opportunities: NC Rural Center Economic Innovations Grant NC Rural Center Economic Innovations Grant Golden Leaf Foundation Golden Leaf Foundation USDA Rural Economic Development Loan and Grant USDA Rural Economic Development Loan and Grant Economic Development Administration Economic Development Administration Community Development Block Grant Community Development Block Grant

63 Heart of NC MegaPark Funding Initiatives Landowners support Landowners support Randolph EMC / NC Electric Cooperatives Randolph EMC / NC Electric Cooperatives Progress Energy Progress Energy Rural Center Economic Innovations Grant Rural Center Economic Innovations Grant Golden LEAF Foundation Golden LEAF Foundation USDA REDLG Programs USDA REDLG Programs Rural Center Economic Infrastructure Grant Rural Center Economic Infrastructure Grant Economic Development Administration Economic Development Administration NCDOC: Community Block Development Grant & Industrial Development Fund NCDOC: Community Block Development Grant & Industrial Development Fund

64 Heart of NC MegaPark Current Status Resolution of Support from both counties - Completed Resolution of Support from both counties - Completed Form Board of Directors - Completed Form Board of Directors - Completed Establish new 501(c)(3) nonprofit corporation – Completed Establish new 501(c)(3) nonprofit corporation – Completed Develop Letters of Intent with landowners – Underway Develop Letters of Intent with landowners – Underway Execute Interlocal Agreement between counties – To do Execute Interlocal Agreement between counties – To do Develop Master Plan for entire site - To do Develop Master Plan for entire site - To do Infrastructure Plan – Committee formed Infrastructure Plan – Committee formed Establish NC DOC Site Certification – Under consideration Establish NC DOC Site Certification – Under consideration Develop Marketing Strategy - To do Develop Marketing Strategy - To do

65 Robert Timothy Tim Lea Biography Resides in District IV Resides in District IV Represents all Moore County Residents Represents all Moore County Residents Elected: November 2004 Elected: November 2004 Reelected: November 2008 Reelected: November 2008 Sworn in: December 2008 (second term) Sworn in: December 2008 (second term) Term Expiration: December 2012 Term Expiration: December 2012 Contact Information: Contact Information: Mail: P.O. Box 1233, Pinehurst, NC Mail: P.O. Box 1233, Pinehurst, NC Phone: (910) Phone: (910)

66 Robert Timothy Tim Lea Biography Serving second term on the Moore County Board of Commissioners Serving second term on the Moore County Board of Commissioners Tim served as Chairman from December 2009 through November 2010 Tim served as Chairman from December 2009 through November 2010 Native of Moore County, a product of the Moore County Schools, a graduate of Sandhills Community College and attended East Carolina University. Native of Moore County, a product of the Moore County Schools, a graduate of Sandhills Community College and attended East Carolina University. Founder, Chairman and CEO of Healthcare Systems Consulting, Inc. He has had a wide range of business experience and believes in managing by consensus building. Founder, Chairman and CEO of Healthcare Systems Consulting, Inc. He has had a wide range of business experience and believes in managing by consensus building. Served his country as a United States Marine and was honorably discharged. Served his country as a United States Marine and was honorably discharged. He and his wife, Laine, have two children, a son Blake and daughter Brittany. They live on the farm where Tim grew up and raise Black Angus Cattle. He and his wife, Laine, have two children, a son Blake and daughter Brittany. They live on the farm where Tim grew up and raise Black Angus Cattle. Members of the Culdee Presbyterian Church in Eastwood where he has served as President of the Mens Club, Deacon, Chairman of the Pulpit Nominating Committee and Elder. Members of the Culdee Presbyterian Church in Eastwood where he has served as President of the Mens Club, Deacon, Chairman of the Pulpit Nominating Committee and Elder.

67 Robert Timothy Tim Lea Biography Extensively involved in local community service projects and civic organizations since 1993 and has served in many leadership capacities including Extensively involved in local community service projects and civic organizations since 1993 and has served in many leadership capacities including Chairman of the Moore County Planning Board Chairman of the Moore County Planning Board Chairman of the County Land Use Plan Steering Committee Chairman of the County Land Use Plan Steering Committee Chairman of the Moore County Schools Community Superintendent Search Committee Chairman of the Moore County Schools Community Superintendent Search Committee President of The Public Education Foundation of Moore County, Inc. President of The Public Education Foundation of Moore County, Inc. Co-chairman of the Moore County Schools Community Technology Committee Co-chairman of the Moore County Schools Community Technology Committee Vice Chairman of the Sandhills Community College Board of Trustees. Vice Chairman of the Sandhills Community College Board of Trustees. Member of the Sandhills Community College Foundation Board of Directors Member of the Sandhills Community College Foundation Board of Directors Member of the North Carolina Association of Community College Trustees Executive Board Member of the North Carolina Association of Community College Trustees Executive Board Member of the Moore County Board of Health Member of the Moore County Board of Health Member of the Moore County Chamber of Commerce Member of the Moore County Chamber of Commerce

68 Robert Timothy Tim Lea Biography In his capacity as County Commissioner, Tim Lea currently serves as: In his capacity as County Commissioner, Tim Lea currently serves as: Secretary/Treasurer of the Triangle J Council of Governments Board Secretary/Treasurer of the Triangle J Council of Governments Board Chairman of the Heart of North Carolina MegaPark Board. Chairman of the Heart of North Carolina MegaPark Board. Member of the Research Triangle Regional Partnership Board Member of the Research Triangle Regional Partnership Board Member of the Moore County Partners in Progress Executive Board Member of the Moore County Partners in Progress Executive Board Member of Retired Seniors Volunteer Program (RSVP) and Aging Advisory Council. Member of Retired Seniors Volunteer Program (RSVP) and Aging Advisory Council.

69 QUESTIONS? Thank you!


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