ORD-2011-041 NA Cost Share Adjustment for Breeze Farm Conservation Easement (Phase 2) and Approval of Budget Amendment #4-B

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ORD A011 -0+1 ORANGE COUNTY BOARD OF COUNTY COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: November 15, 2011 Action Agenda Item No. 5- ' SUBJECT: Cost Share Adjustment for Breeze Farm Conservation Easement (Phase 2) and Approval of Budget Amendment #4 -B DEPARTMENT: Environment, Agriculture, Parks PUBLIC HEARING: (Y /N) No and Recreation (DEAPR) ATTACHMENTS Approved Resolution (June 2011) INFORMATION CONTACT: David Stancil, 245 -2510 Rich Shaw, 245 -2514 PURPOSE: To authorize a reduction of $14,520 from NC Agriculture and Farmland Preservation Trust Funds for the agricultural conservation easement for the Breeze farm (Phase 2), and approve Budget Amendment #4 -B. BACKGROUND: On June 21, 2011 the Board approved the County's acceptance of a permanent conservation easement for 153 acres of the Breeze farm located on Schley Road in Cedar Grove Township. Since then DEAPR has been working with the landowner, closing attorney, and federal and state funding partners to complete the project. In August DEAPR was notified by the NC Agricultural Development and Farmland Preservation Trust Fund (ADFP Trust Fund) that the state grant would be reduced from $150,000 to $135,480. The ADFP Trust Fund had originally awarded $150,000 for this project, but since the final purchase price for the easement will be less than had been estimated when the County applied, the state's share of purchase price (25 %) is also reduced. The County was also awarded $172,000 in federal funds from the Farm and Ranch Land Protection Program, but the amount of federal funds remains intact. FINANCIAL IMPACT: The total Breeze Farm Conservation Easement budget will decrease by $14,520 from $502,000 to $487,480. The revised cost share for the $487,480 budget: $172,000 from the federal Farm & Ranch Land Protection Program, $180,000 from Orange County, and $135,480 from NC Agricultural Development & Farmland Preservation Trust Fund. The landowner (Colonel Breeze) will donate an additional 12% of the easement value ($64,500).