Agenda - 06-16-2009 - Infor Item 3

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1 which a properly owner typically conveys development rights in return for tax credits or 2 compensation (payment), while still holding ownership of the land. The value of the easement 3 is determined based on the market value of the development rights. Farmers would be free to 4 use this payment for any purposes they choose: retirement investment, capital improvement, 5 etc. Payment options could include lump-sum payment or annual payments over a set period. 6 7 In April 2000, Orange County created the Lands Legacy Program to protect the most important 8 natural and cultural resource lands in the County, working in collaboration with other like- 9 minded agencies. One of the five areas of focus for Lands Legacy is farmland preservation, 10 through the acquisition of agricultural conservation easements. The County has recorded 11 11 agricultural easements since the program was adopted, protecting 1,200 acres of prime and 12 threatened farmland. In so doing, the County has partnered with the USDA Farm and 13 Ranchland Protection Program, the NC Farmland Preservation Trust Fund (2001), and other 14 grant and conservation agencies. During the eight years of this program, over $2.3 million of 15 federal and State grants have been leveraged for farmland easements. The provision of $3.0 16 million in local funds by the Orange County Board of Commissioners has enabled these grants 17 to be received. One agricultural easement has been donated, along with a portion of a second, 18 for conservation tax benefits. 19 20 In other areas around the country this type of program has been funded through municipal and 21 county bond issues, a percentage of real estate transfer tax or mortgage tax revenues, or as a 22 regular budget line item. Agricultural easements are drafted to offer farmers maximum 23 flexibility to continue to profitably work their land, and change their operation as their needs 24 dictate, as long as they meet the requirements of state law regarding the purpose of 25 agricultural conservation easements, and the provisions of the easement itself. 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Existing Agricultural Economic Development Programs As of 2008, Orange County is home to five active farmers markets and ten additional (15 total) farmers markets are located within the greater Triangle region. Local markets include: Orange County Farmers' Market, the Hillsborough Farmers' Market, the Chapel Hill market sponsored by A Southern Season on South Estes Road, the market at Southern Village in Chapel Hill, and the Carrboro Farmers' Market. The Carrboro Market, known throughout the nation, just celebrated its 30-year anniversary. Hillsborough residents have long enjoyed small-scale markets in the connecting parking lots behind some of the historic buildings along Churton Street, the main downtown corridor. Last fall, Orange County unveiled its new Public Market House, an open pavilion space to host the Orange County farmers' market and to provide assembly space for various outdoor functions. The Public Market House was constructed in part with state grant funds. All five markets are open on Saturday mornings and typically Wednesday evenings. Many local farmers also sell their wares at the farmers' market in downtown Durham, and the Saxapahaw market in Chatham County. t~rangeCaunty F+~rrx~rs~ art e,~ ~r,~ Public Mcarkat House 47 PLANT (People Learning Agriculture Now for Tomorrow), a new farm enterprise 48 incubator program, is getting ready to start its second year. A joint project. between the Draft 6/1!2009 Opportunities for Enhancing Agriculture in Orange County 27