Agenda - 02-18-2014 - 7c - Laserfiche WebLink

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Plan Committee, co- chaired by Commissioner Barry Jacobs and including Commissioner Alice Gordon. The Committee worked over an 18 -month period to develop a master plan that was adopted by all four local government partners in 2009 -10. Orange County adopted the plan on April 20, 2010. The Triangle Land Conservancy (TLC) has been involved in the project since its inception, but it is now ready to convey its portion of the property for an addition to the public recreation area. TLC has offered to sell its 2.6 -acre parcel (686 Erwin Road) to the County for $66,013 plus transaction costs. TLC purchased the property in 2001 for $132,000 with help from a grant from the NC Clean Water Management Trust Fund. The current tax value is $211,915 ($144,846 land; $67,069 buildings). The proposed purchase price would be a "bargain sale ". The County has negotiated the terms of a contract consistent with TLC's offer with a closing date anticipated by the end of April 2014. Following that action, the property would be part of the future Hollow Rock Access Area. Construction of the planned public amenities is anticipated over the next two years with help from a $200,000 Recreational Trails Program grant that was recently awarded to Durham County in collaboration with Orange County. FINANCIAL IMPACT: The cost of purchase of the 2.6 acres is $66,000, with additional transaction costs of approximately $5,000. Funding for the acquisition would come from the Lands Legacy Fund (voter- approved 2001 Parks and Open Space bonds converted to alternative financing in 2008 -09) of which there is $1,467,000 currently available. RECOMMENDATIONS: The Manager recommends that the Board: Approve the purchase of approximately 2.6 acres of land located on Erwin Road from Triangle Land Conservancy; and Authorize the Chair to sign the contract on behalf of the County, subject to final review by staff and County Attorney; and Instruct the County Attorney and staffs from DEAPR and Financial Services to schedule and complete a closing on the property expected to occur on or before April 30, 2014.