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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(-$45,000) - Project#20011
<br /> Revenues for this project:
<br /> Current FY FY 2013-14 FY 2013-14
<br /> 2013-14 Amendment Revised
<br /> Alternative Financing $851,472 $0 $851,472
<br /> From General Fund $769,100 $45,000 $724,100
<br /> Donations $1,000 $0 $1,000
<br /> [Appropriated Fund Balance 1 $9,337 $0 $9,337
<br /> Total Project Funding $1,630,909 $45,000 $1,585,909
<br /> Appropriated for this project:
<br /> Current FY FY 2013-14 FY 2013-14
<br /> 2013-14 Amendment Revised
<br /> Lands Legacy $1,630,909 $45,000 $1,585,909
<br /> Total Costs $1,630,909 $45,000 $1,585,909
<br /> Conservation Easements ($45,000) -Project#20006
<br /> Revenues for this project:
<br /> Current FY FY 2013-14 FY 2013-14
<br /> 2013-14 Amendment Revised
<br /> Alternative Financing $590,632 $0 $590,632
<br /> Capital Grant Funds $1,028,280 $0 $1,028,280
<br /> From General Fund $364,296 $45,000 1 $409,296
<br /> Total Project Fundin $1,983,208 $45,000 $2,028,208
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