Agenda - 08-23-1999 - D3 - Laserfiche WebLink

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5/26/99 • Now in the process -of creating a matrix of easements to provide a picture of what they have, the gaps that might exist, and what is happening with the properties. 2. Boulder County, CO (Nancy Dayton, (303) 678 -6243) Methods of Acquiring Land: Sales Tax: • In 1993 passed a sales tax for acquiring land • Revenue from so far between $4 and $4.5 million annually, which the county uses to pay off bonds. • Sold idea of sales tax of 1/4 of a cent • Needed carrots to help sell the idea - certain areas that everyone wants to stay open. Able to work out arrangements to get them. • In its life, it has generated $33 million, which has allowed the county to "power shop." • The community supported and initiated the sales tax idea. • Had deals in place before the bonds to buy 4 -5000 acre ranches Details of buying: Find property ownership where wanted to purchase the conservation easement • Rolling option contract - purchase land over time, price set in the first year • Pay about 6% per annum on the balance • The current board of county commissioners has to approve the purchase of the additional Land on a yearly basis, but have every time so far • Have some staff dedicated to just land acquisition on their staff, including an attorney and paralegal • Start the negotiation with a letter of inquiry, which lays out the potential offer and seeks to determine the interest in the owners possibly selling the land • Follow -up with a letter of intent to buy the land. Includes an offer for x acres, legal_ description of the land, the amount of water /mineral rights, other conditions of the sell, lease back, etc. Haggle, settle, get contract with those terms in it. • Will do a variety of things to get deal done • Include the creation lots around beaten out house, add value to the seller (can exempt subdivision policy if they can show a clear public purpose) • 1/35 acre zoning