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ATTACHMENT3 0
<br />Conservation Easements
<br />Capital Project Ordinance
<br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section
<br />13.2 of Chapter .159 of the General Statutes of North Carolina, the following capital project is
<br />hereby adopted.
<br />Section 1. The project authorized provides funds for the acquisition of conservation
<br />easements to help preserve County farmland. Financing for the project includes
<br />proceeds from private placement loans, federal grant funds from the USDA
<br />Natural Resource Conservation Service, and proceeds from the County's share
<br />of pay-as-you-go capital funds.
<br />Section 2. The officers of the County are hereby directed to proceed with the project within
<br />the budget contained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through FY
<br />2006-07
<br />FY 2007-08 Through FY
<br />2007-08
<br />Sales Tax and Dedicated
<br />Property Tax
<br />$350,000
<br />$0
<br />$350,000
<br />Bond Funds $0 $0 $0
<br />Private Placement $2,250,000 $0 $2,250,000
<br />Grant Funds $2,407,206 $573,161 $2,980,367
<br />Fees $0 $0 $0
<br />Transfer from Lands Legacy
<br />Capital Project
<br />$143,000
<br />$0
<br />$143,000
<br />Total Funding $5,150,206 $573,161 $5,723,367
<br />Section 4. The followin amount is ap ro riated for this ro'ect:
<br /> Through FY
<br />2006-07
<br />FY 2007-08 Through FY
<br />2007-08
<br />Land/Building:
<br />Walters Easement $725,000 $0 $725,000
<br />Volpe Easement $73,100 $0 $73,100
<br />Cheek Easement $580,000 $0 $580,000
<br />McPherson Easement $68,000 $0 $68,000
<br />Ward Easement $444,750 $0 $444,750
<br />Lloyd Easement $219,000 . $0 $219,000
<br />Laws Easement $0 $0 $0
<br />Keith Easement $116,000 $0 $116,000
<br />Fickle Creek Farm Easement $277,658 $0 $277,658
<br />McKee Easement $0 $612,000 $612,000
<br />Latta Easement $0 . $601,400 $601,400
<br />Unallocated $2,646,698 ($640,239) $2,006,459
<br />Total Land/Building $5,150,206 $573,161 $5,723,367
<br />Design $0 $0 $0
<br />Construction $0 $0 $0
<br />Total Costs $5,150,206 $573,161 $5,723,367
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