The Orange County Board of Commissioners will meet with officials from both school districts this spring to talk about how to spend $120 million in potential bond funds.
Orange County voters will decide in November whether to approve bond spending for repairs and renovations in both school districts – roughly 37 percent of the identified needs – plus another $5 million for affordable housing.
The money won’t necessarily require a tax increase, officials said, but would equal 3.7 cents to 5.8 cents in taxes on $100 worth of property, or a one-time property tax increase of $111 to $174 for the owner of a $300,000 home.
Chapel Hill-Carrboro and Orange County schools officials have spent years identifying projects that are a priority, from security concerns to decades-old buildings that need mechanical system upgrades and handicap accessibility. City district projects could make room for more students and delay new school construction.
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The commissioners will hold public hearings on April 19 in Chapel Hill and May 5 in Hillsborough.
The board also formed a 14-member bond education committee, including Commissioners Mark Dorosin and Mia Burroughs, and representatives from both school districts, the Affordable Housing Advisory Board, affordable housing nonprofits and residents. Applications for the nonprofit and resident positions will be available soon.