Item G2BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: March 18, 2009 Division: County Administrator
Bulk Item: Yes No X Department: Project Management
Staff Contact Person/Phone #: Jerry Barnett/# 4416
AGENDA ITEM WORDING:
Discussion of interest in pursuing private financing of new County buildings specifically, as a possible
mechanism for funding construction of a new Emergency Operations Center (EOC).
ITEM BACKGROUND:
The County has been approached by a construction contractor who has expressed interest in
constructing the new EOC and who asked if the County would entertain an agreement in which this
company would contract to build the facility and finance the payment over an extended period. The
form of the agreement is open to negotiation but might be configured as a private mortgage over 20-30
years or as a lease back. In either case the building would become the County’s property at the end of
the agreement. The benefit to the contractor (or his financing partners) is that he gets the construction
contract (and the investment return – i.e. interest – on the invested capital). The specifics of an
agreement are yet to be worked out but should include a provision to pay down the principal without
penalty by an amount equal to any construction grants obtained or at the County’s sole discretion.
There are likely a number of other specifics that should be included. It is also likely that such a
proposal would have to be the subject of a public request for proposals.
PREVIOUS RELEVANT BOCC ACTION:
CONTRACT/AGREEMENT CHANGES:
__________________________________________________________________________________
STAFF RECOMMENDATIONS:
TOTAL COST: INDIRECT COST: ______________BUDGETED:
YesNo___
COST TO COUNTY:SOURCE OF FUNDS:
____________________
REVENUE PRODUCING:AMOUNT PER MONTHYear ____
Yes No
APPROVED BY:
County Atty OMB/Purchasing Risk Management ____
DOCUMENTATION:
Included Not Required____
DISPOSITION:AGENDA ITEM #