Agenda - 03-27-2007-6b - Laserfiche WebLink

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The Lattas intend to grant a conservation easement on a large portion of their farm (approximately 138 acres), which includes the main dairy buildings, cropland and pasture. A survey of the property is underway, which when completed will determine the exact size of the easement property. ERCD Staff and the County Attorney have worked with the owners to prepare an easement agreement that meets their needs and the County's interests. The easement also conforms to federal guidelines pursuant to the federal Farm and Ranch Land Protection Program, which will also contribute funds to this project. The' easement would permanently protect this portion of the property for farm use. The property includes farm buildings clustered within a "Farmstead Area" and two existing residences in a designated "Residential Envelope" -both shown on the attached site map. Future farm activities will continue in accordance with a conservation plan prepared for this farm. All future non-agricultural development rights would be extinguished through the conservation easement. ERCD will monitor the. property on an annual basis. A copy of the draft easement agreement is attached. 2 FINANCIAL IMPACT: The purchase price for the conservation easement is $600,000, which was determined by an appraisal of the fair market value of the development rights that will be removed from the land. Including survey and other transaction costs, the total cost of the project is approximately $608,000, with. $300,000 of that amount to be reimbursed by a grant from the federal Farm and Ranch Land Protection Program. The County's share of the cost (about $308,000) would come from existing funds budgeted from the $3.0 million in alternative financing for conservation easements approved by the Board of Commissioners in FY 2002-03 and previously appropriated. The Budget office will bring a Capital Project Ordinance for this project forward in an~upcoming budget amendment. RECOMMENDATION: The Manager recommends that the Board adopt the resolution approving .the acceptance by Orange County of the conservation easement and authorize the Chair and the Clerk to sign the conservation easement agreement, subject to final review by staff and County Attorney, with a closing and recordation of the document expected to occur on or about May 31, 2007.