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

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purchase. The Board at that time did, however, indicate a willingness to consider funding assistance in some smaller capacity if the land were acquired. The Board considered the TLC request at an October 12, 2010 work session. The Board spoke favorably toward providing funding assistance, but only if TLC would allow public access to the property and the County were granted an interest in the property. The County Attorney suggested that the County be granted a conservation easement that would achieve both of those objectives. The Board directed staff and the County Attomey to work with TLC on such a proposal for Board consideration. County staff met with TLC representatives in January to discuss potential options. TLC explained it had already negotiated a conservation easement with the Zeist Foundation and the Eno River Association, which will restrict activities on portions of 613 -acre property that are not suitable for public access. The parties decided to craft an easement for a public trail corridor that would help implement multiple County objectives, including the approved NC Mountains -to- Sea Trail corridor plan, which envisions a spur trail through the Brumley Forest property, and the Stony Creek Small Area Plan (part of the Orange County Comprehensive Plan), which envisioned a portion of this property as a possible park site. A map of the Brumley Forest property is attached along with a draft public trail easement. The specific route of the trail corridor has not yet been delineated, but it will traverse the property along the same general route as the Stony Creek corridor. The TLC board will consider the draft public grail easement for approval on March 16. FINANCIAL IMPACT: The County would receive a public trail easement at a cost of $50,000 to help offset the cost of property taxes and use value rollback taxes (three years, prorated). The County's source of funds would be Payment -in -Lieu funds since this project would provide public access for recreation and open space. The site falls within the Chapel Hill Township District for payment -in -lieu funds, which has a balance of $73,184. Budget Amendment #7 -C will transfer $50,000 from the Payment -in -Lieu fund (Chapel Hill Township District) to the Conservation Easements Project. Budget Amendment # 7 -C for Parks and Open Space Subdivision Payment -in -Lieu Fund Revenues: Fund Balance Applied $ 50,000 Expenditures: Transfer to County Capital Projects $ 50,000 Conservation Easements: Project # 20006 Revenues for this Droiect: FY 2010 -11 Revised FY2010 -11 Corrections FY 2010 -11 Revised Sales Tax. & Dedicated Property Tax $12.944 $12,944 Private: Placement 590,632 590,632 Grant Funds 322,000 322,000 Transfer from Other Funds $50,000 50,000 Total Project Funding $925,576 $50,000 $975,576