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Attachment 2 <br />CONSERVATION EASEMENTS BACKGROUND: <br />Capital Project Ordinance: <br />The Conservation Easements Project Ordinance has an approved budget of $7,362,707 and is <br />$1,484,526 over the correct project budget of $5,878,181. <br />The purpose of the Conservation Easements Preservation Project is to purchase open -space <br />within the County. The Board created this project during the CIP planning process in the spring <br />of 1998 and funded the first year with $100,000 from property taxes. The Conservation <br />Easement Project is designed to provide funds for the acquisition of conservation easements. <br />On June 23, 2004, the Board of County Commissioners approved a Capital Project Budget <br />Amendment for the Conservation Easement Capital Project for three matching grants totaling <br />$638,840 from the US Department of Agriculture's Farm & Ranch Lands Protection Program to <br />help acquire conservation easements. These grants are to be matched by County funds set <br />aside for conservation easements. In 2002, the Board of County Commissioners approved <br />$3.0 million for easements to augment the 2001 Parks and Open Space bond funds (which can <br />not be used for easements). Over the next 2 years, these funds were budgeted again when <br />each individual conservation easement was approved by the Board. <br />On June 7, 2005, the Board of County Commissioners approved a Capital Project Budget <br />Amendment for the Conservation Easement Capital Project for $845,686. The purpose is to <br />purchase farmland preservation conservation easements in Orange County. The funds are <br />from the US Department of Agriculture's Farm & Ranch Lands Protection Program. These <br />grants are to be matched by County funds set aside for conservation easements. Over the next <br />2 years these funds were budgeted again when each individual conservation easement was <br />approved by the Board. <br />Two grant awards were budgeted when awarded. The first was for $638,840, and the second <br />was for $845,686. These awards totaling $1,484,526 were then budgeted again when the <br />Board of County Commissioners approved each individual conservation easement. These <br />double budget revenues result in the Conservation Easement Project Ordinance being over <br />stated by $1,484,526. <br />Approved Project Ordinance <br />$7,362,707 <br />Less: <br />Over Budgeting of Grant Revenues <br />2004 <br />638,840 <br />2005 <br />845,686 <br />Conservation Easements Correct Budget <br />$5,8781181 <br />