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<br />Radziemski, intent to grant a permanent conservation easement that will prohibit future
<br />development and allow only sustainable forestry outside of riparian buffers (9 acres).
<br />DEAPR staff helped prepare the conservation easement and the forest stewardship plan.
<br />FINANCIAL IMPACT: The purchase price of the Infinity Farm easement is $222,000
<br />(appraised value) less a $20,000 donation from the landowners. The Eno River Association
<br />(ERA) has secured funding to purchase this easement from a Healthy Forests grant
<br />($139,964), City of Raleigh ($34,000), and Town of Hillsborough ($3,000). ERA requests a
<br />$25,000 contribution from Orange County for the remainder of the purchase price.
<br />The purchase price of the Buckquarter Creek conservation easement is $140,778 (appraised
<br />value). The majority of funding has been secured by the Eno River Association (ERA)
<br />through a Healthy Forests grant ($120,778). The ERA requests a $20,000 contribution
<br />from Orange County for the remainder of the purchase price. The City of Raleigh will
<br />provide ERA with additional stewardship funds ($12,000) for this project through the Upper
<br />Neuse Clean Water Initiative.
<br />Both properties are enrolled in the Present Use Value taxation program, so the conservation
<br />easements would not lessen the amount of property taxes paid to the County. The decrease
<br />in the properties' market value caused by the conservation easement would not lower the
<br />property value to a level that is less than their present use value.
<br />This budget amendment provides for use of existing County funds of $45,000 from the Lands
<br />Legacy Capital Project transferred to the Conservation Easements Capital Project. The
<br />amended Capital Project Ordinances is below:
<br />Lands Legacy (445,000) - Project # 20011
<br />Revenues for this Droiect:
<br />ADDroariated for this Droiect:
<br />Current FY
<br />2013 -14
<br />FY 2013 -14
<br />Amendment
<br />FY 2013 -14
<br />Revised
<br />Alternative Financing
<br />$851,472
<br />$0
<br />$851,472
<br />From General Fund
<br />$769,100
<br />$45,000
<br />$724,100
<br />Donations
<br />$1,000
<br />$0
<br />$1,000
<br />Appropriated Fund Balance
<br />$9,337
<br />1 $0
<br />$9,337
<br />Total Project Funding
<br />$1,630,909
<br />1 ($45,000)
<br />$1,585,909
<br />ADDroariated for this Droiect:
<br />Conservation Easements ($45,000) - Project # 20006
<br />Revenues for this Droiect:
<br />Current FY
<br />2013 -14
<br />FY 2013 -14
<br />Amendment
<br />FY 2013 -14
<br />Revised
<br />Lands Legacy
<br />$1,630,909
<br />$45,000
<br />$1,585,909
<br />Total Costs
<br />$1,630,909
<br />($45,000)
<br />$1,585,909
<br />Conservation Easements ($45,000) - Project # 20006
<br />Revenues for this Droiect:
<br />Current FY
<br />2013 -14
<br />FY 2013 -14
<br />Amendment
<br />FY 2013 -14
<br />Revised
<br />Alternative Financing
<br />$590,632
<br />$0
<br />$590,632
<br />Capital Grant Funds
<br />$1,028,280
<br />$0
<br />$1,028,280
<br />From General Fund
<br />$364,296
<br />$45,000
<br />$409,296
<br />Total Project Funding
<br />$1,983,208
<br />1 $45,000
<br />$2,028,208
<br />
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