ORD-2008-004 - Conservation Easements-

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