ORD-2011-010 Budget Ordinance Amendment #7-C

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ORD -,q01 I - 010 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 3, 2011 Action Agenda Item No. 4- - (E!� SUBJECT: Public Trail Easement and Triangle Land Conservancy Funding Request for the Brumley Forest Nature Preserve; and Approval of Budget Amendment #7 -C DEPARTMENT: Environment, Agriculture, Parks and Recreation (DEAPR) PUBLIC HEARING: (Y /N) No ATTACHMENTS: INFORMATION CONTACTS: Letter from TLC President David Stancil, 245 -2510 Map of Property Rich Shaw, 245 -2514 Draft Public Trail Easement PURPOSE: To consider the acceptance of a public trail easement through the Triangle Land Conservancy's Brumley Forest Nature Preserve and a request from Triangle Land Conservancy for funding assistance for its "Brumley Forest" acquisition in May 2010. BACKGROUND: In May 2010, Triangle Land Conservancy (TLC) completed a multi -year negotiation with the Zeist Foundation in Atlanta to acquire 613 acres of land along New Hope Church Road and Old NC 10 in Chapel Hill and Eno townships. The property had been owned by George and Julia Brumley, who died tragically in a 2003 airplane crash. Title to the land transferred to the family's private foundation in Atlanta. The landholding was one of the largest privately -held properties in Orange County. Stony Creek, a major tributary of the Eno River, runs through the property and is one of several conservation values (including identified prime forest) present on the site. TLC purchased the property with over $4 million accumulated from state grant funds, private donors, and the City of Raleigh's Upper Neuse Clean Water Initiative. The property, now known as "Brumley Forest," was purchased as a bargain sale, with the Zeist Foundation donating about half of the appraised market value. As is standard practice, TLC will apply for property tax exemption. However, because the sale took place in mid -year of 2010, a property tax bill for 2010 was generated including rollback taxes from the use value tax status. A total of $216,000 in rollback taxes were paid by the buyers and sellers at the closing. As a result, TLC was left with a prorated share of property tax of $50,000. TLC as a non - profit entity does not qualify for use value taxation, and it is this amount that has been requested from the Lands Legacy Program by the TLC President. The County considered participating in the purchase of the Brumley Forest property in 2008, but opted against becoming a funding partner due to the anticipated high cost of the proposed