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ORD-2008-003 - Fiscal Year 2007-08 Budget Amendment #6
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ORD-2008-003 - Fiscal Year 2007-08 Budget Amendment #6
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Last modified
4/21/2011 4:06:08 PM
Creation date
10/12/2009 4:05:37 PM
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BOCC
Date
1/15/2008
Meeting Type
Regular Meeting
Document Type
Ordinance
Agenda Item
4v
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Conservation Easements Capital Project Ordinance <br />7. At its May 15, 2007 meeting, the Board of County Commissioners approved the acceptance <br />of an agricultural conservation easement related to the 62-acre Lee Farm property at a total <br />cost of $306,250. Of this amount, the County anticipates receiving $146,750 from the <br />federal Farm and Ranch Land Protection Program. The County's share of $159,500 comes <br />from alternative financing for conservation easements previously approved by the Board of <br />Commissioners and issued in spring 2007. This budget amendment provides for the <br />updated Conservation Easements Capital Project Ordinance to reflect these funding <br />sources. (See Attachment 3, Conservation Easements Capital Project Ordinance) <br />Lands Legacy Capital Project Ordinance <br />8. At its December 3, 2007 meeting, the Board of County Commissioners approved Orange <br />County's contribution of $250,000 toward the purchase of the 110-acre Eno Confluence <br />property and the acceptance of a conservation easement for the property. The Eno River <br />Association has a contract to purchase the property for $1,104,700 plus closing costs and <br />option fees of $15,194, for a total of $1,119,894. In addition to the County's contribution of <br />$250,000, which comes from the 2001 Parks and Open Space bond, funding for the <br />purchase would come from the N.C. Clean Water Management Trust Fund ($656,400), the <br />Upper Neuse Clean Water Initiative ($110,470), and $103,024 in private funds raised by the <br />Eno River Association. This budget amendment provides for purchase of this property. (See <br />Attachment 4, Lands Legacy Capital Project Ordinance) <br />FINANCIAL IMPACT: Financial impacts are included in the background information above. <br />RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners <br />approve the budget and capital project ordinance amendments. <br />
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