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2 <br />Attachment 1 <br />LANDS LEGACY BACKGROUND: <br />Capital Project Ordinance: <br />The Lands Legacy Project Ordinance has an approved budget of $17,229,577 and is <br />$11,219,125 over the correct project budget of $6,010,452. <br />The Lands Legacy program started as a recommendation from the Open Space Task Force to <br />the Board of Commissioners on April 4, 2000. On May 3, 2000 the Board adopted the Interim <br />Action Plan for Lands Legacy. On June 25, 2001 the Board of County Commissioners <br />approved a Resource Lands Conservation (Lands Legacy) Project Capital Project Ordinance for <br />a total project budget of $6,154,527 that included many of the projects identified in the Action <br />Plan. This Capital Project Ordinance included the following project elements: McGowan Creek: <br />Preserve, Little River Natural Area and Regional Park, Eubanks Road Property, Walters <br />Farmland Conservation Easement, Seven Mile Creek Preserve and Unallocated Funds. Over <br />the past nine years, project elements have been added, such as the Blackwood Property, and <br />the total project ordinance has grown to $17,229,577 (see the attached June 15, 2010 <br />approved Project Ordinance). <br />Approved Project Ordinance <br />$17,229,577 <br />Less: <br />Double Budgeting of Projects <br />8,024,720 <br />Over Budgeting of Bond Revenues <br />2001 GO Bonds <br />1,500,000 <br />2009 Alternative Financing <br />1,700,000 <br />Plus: <br />Accounting System Correction 2003 <br />5,595 <br />Lands Legacy Correct Project Budget <br />$6,010,452 <br />Double Budgeting of Projects: <br />Since the inception of the Lands Legacy Program, five projects have been budgeted twice. <br />Attached is a Summary of Lands Legacy projects originally included in the Lands Legacy <br />Project Ordinance and that were also established as individual Project Ordinances. Individual <br />project ordinances were established for: McGowan Creek Preserve, Little River Natural Area & <br />Regional Park, Eubanks Road Property, Seven Mile Creek Preserve and Blackwood Farm. The <br />Lands Legacy Project Ordinance was never reduced after the new individual project budgets <br />were established. These double budget projects result in the Lands Legacy Project Ordinance <br />being overstated by $8,024,720. <br />