Agenda - 01-23-2014 - 6j - Laserfiche WebLink

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2 • An improving regional economy — an expected upturn following the Great Recession (2008-12) should provide more conservation opportunities, but it may also result in higher land values. • No more NC Conservation Tax Credit — The NC General Assembly eliminated one of the important incentives for landowners to donate conservation easements or enter into bargain sales. The tax credit program expired December 31, 2013. • Less funding from the State of NC — Although the state budget includes funding for land conservation, the amount of grant funds available to local governments from the state trust funds has been reduced significantly. • County parks master plan update — An updated parks and recreation master plan for Orange County will be completed in early 2014. The plan will help guide future Lands Legacy program acquisitions related to parks, open space and trails. • County funding for conservation easements — The BOCC approved an annual allocation of $125,000 in the Capital Investment Plan (CIP) for conservation easement purchases. These funds are expected to leverage outside funds from various sources. Most of the priority focus areas in the 2014-17 Action Plan are multi-year projects repeated from previous action plans. A few potential new projects are offered for the Board's consideration. Details of each are provided on pages 3-4 of the action plan. • Bingham Township Park • Farmland Easements • Upper Eno Preserve/ • Jordan Lake Headwaters Mountains-to-Sea Trail Preserve (Hillsborough to Seven-Mile • Local Historic Landmarks Creek segment) The status of funding sources to pursue these projects is provided as Attachment 3. FINANCIAL IMPACT: Most of the funds available for the upcoming three fiscal years (2014- 15, 2015-16, and 2016-17) are existing funds from prior appropriations of the Board (2001- 2006). These include $1,467,387 in appropriations from the Lands Legacy Fund (voter- approved 2001 Parks and Open Space bonds converted to alternative financing in 2008-09) and $478,000 in Payment-in-Lieu Funds (funds generated by new subdivision activity for parks, recreation and open space acquisition and construction). In addition, the Board allocated $125,000 annually for the Conservation Easement Fund as part of the CIP adopted in June 2013. Where identified, the proposed funding source is listed in the attached Action Plan. For many projects, DEAPR seeks grant funds from a variety of state and federal sources. Thus far the County has received $3.8 million for conserving lands through Lands Legacy. Final funding decisions are made by the Board on a project-by-project basis, as potential purchases are presented for approval. Not all potential projects in the draft Action Plan will be pursued. In each case, separate project budgets and capital project ordinances with specific funding sources and amounts are considered at the time of project approval. RECOMMENDATIONS: The Manager recommends that the Board adopt the Lands Legacy Action Plan for 2014-2017.