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2 <br />The County is currently awaiting word on a Parks and Recreation Trust Fund grant, with <br />notification expected in May or July. A conditional use permit application with the Town of <br />Hillsborough is currently under consideration. <br />The attached survey from Summit Consulting Engineers shows the five-acre land area to be <br />exchanged. The Town of Hillsborough approved the land exchange issue at the Town <br />Board's meeting on May 12, 2008. <br />FINANCIAL IMPACT: There is no cost associated with the land exchange. The Town of <br />Hillsborough took the lead on retaining a surveyor.and the development of plats and deeds to be <br />recorded subject to legal review and Board approvals. A copy of the survey is included as an <br />attachment. The 2001 voter approved bonds ..included $850,000 for development and <br />construction of Phase Two of Fairview Park. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the land <br />exchange as identified in the attached survey and authorize the Chair and Clerk to sign the <br />transfer documents. <br />