ORD-2014-028 Resolution of Approval – Conservation Easement for Jason and Rebecca Davis and Approval of Budget Amendment #9-C

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K which protect over 28 acres and 4,000 feet of stream frontage. Also downstream of the project is the Confluence Natural Area, a 180 -acre preserve owned by the Eno River Association and protected by conservation easements held by the State of North Carolina and Orange County. DEAPR Staff and the County Attorney have worked with the owners to prepare an agreement that meets their needs and the County's interests. The conservation easement will preserve the mixed hardwood forest and stream corridor in their natural condition except for allowing a pedestrian trail and one small gazebo. All other future development rights will be extinguished. DEAPR staff will monitor the site annually. A copy of the draft easement agreement is attached. The Eno River Association has been a partner in this project, having applied for and receiving a $4,000 grant from the City of Raleigh for the purchase of this conservation easement. Raleigh's funds were awarded through the Upper Neuse Clean Water Initiative. The Eno River Association is willing to serve as back -up holder of the easement should it become necessary. Finally, later this year the Davis' intend to purchase a four -acre portion of the adjoining land from Mark and Lori Volpe, including some of the Volpe's land protected by conservation easement. The parties will petition Orange County to amend their respective conservation easements in order to allow the transfer of the easement area from one landowner to the other through a recombination of property boundaries. DEAPR is supportive of this anticipated transaction as a follow -up to the Davis' granting of this conservation easement. FINANCIAL IMPACT: The landowners, Jason and Rebecca Davis, intend to grant a permanent conservation easement to Orange County. The proposed purchase price for the easement is $21,600. The City of Raleigh has awarded $4,000 toward the purchase of this easement so the cost to the County would be $17,600 plus an estimated $5,000 in transaction costs (survey, title search and closing fees), for a total estimated cost of $22,600. Budget Amendment #9 -C provides for the transfer and use of existing funds of $22,600 from the Lands Legacy Capital Project to the Conservation Easements Capital Project, and amends both projects as follows: . Lands Legacy (- $22,600) Project # 20011 Revenues for this oroiect: Annrnnriateri fnr this nroiect: 'rr-- Current FY 2013 -14 FY 2013 -14 Amendment FY 2013 -14 Revised Alternative Financing $851,472 $0 $851,472 From General Fund $654,100 ($22,600) $631,500 Donations $1,000 $0 $1,000 Appropriated Fund Balance $9,337 $0 $9,337 Total Project Funding 1 $1,515,909 ($22,600) $1,493,309 Annrnnriateri fnr this nroiect: 'rr-- Current FY 2013 -14 FY 2013 -14 Amendment FY 2013 -14 Revised Lands Legacy $1,515,909 $22,600 $1,493,309 Total Costs $1,515,909 ($22,600) $1,493,309