2003 NS ERCD - - Trinity School of Durham and Chapel Hill Acceptance of Conservation Easement Assignment from the Triangle Land Conservancy and Chapel Hill

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TLC will purchase the easement with a grant from the NC Clean Water Management Trust Fund. TLC will assign the easement to Orange County for oversight of a future public walking trail along New Hope Creek. Orange County will then assign the conservation easement to the State of North Carolina, which will be the ultimate grantee and holder of the easement. Orange County will reserve from this conveyance the nonexclusive rights initially acquired by the conservation easement to monitor, observe, access, and enforce the easement for the conservation and recreational purposes allowed therein. On September 16, 2003, the Board of Commissioners adopted a resolution approving Orange County's acceptance of the conservation easement and authorizing the Chair to sign the easement documents pending final review by the County Attorney and staff. The documents have been finalized to the satisfaction of all parties. TLC will close on the conservation easement in early November and schedule a subsequent closing in late November for assignment of the easement to Orange County and the State of North Carolina. FINANCIAL IMPACT: The Triangle Land Conservancy will purchase the conservation easement and then convey the easement to Orange County. Orange County (ERCD) will assume the task of monitoring the property on an annual basis and helping to enforce the development restrictions. Orange County may need to pay some transaction costs estimated to be less than $1,000, which would be paid from the lands Legacy Fund. __ RECOMMENDATION(S).:. The Manager recommends that the Board authorize a) the acceptance of the conservation.easementassignment from the Triangle Land Conservancy, b) the assignment of the conservation easement to`the State of North Carolina, and c),the Chair and Clerk to sign'the conservation easement`assighmentdncuments.