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2 <br /> assistance to meet the matching funds needed. On May 8, the Town of Chapel Hill approved <br /> $50,000 in matching fund assistance to the Botanical Garden project. In addition, the Botanical <br /> Garden Foundation recently sold a property to generate $25,000 toward the match. <br /> Orange County is requested to contribute $100,000 toward the project match. While staff has <br /> not formally evaluated this property, it is within the Inventory of Natural Areas and Wildlife <br /> Habitat and this natural area has long been a priority of the Lands Legacy Program. As noted by <br /> the Botanical Garden Foundation in its letter of request, one of the goals of the Orange County <br /> Comprehensive Plan is to "Protect land in and around biologically significant areas, and <br /> connections between these areas, to allow for the maintenance of native wildlife and plant <br /> populations and their functional relationships." <br /> At this time, the Botanical Garden Foundation is looking for a letter of commitment/intention for <br /> funding assistance to convey to the Clean Water Management Trust Fund. A draft letter to this <br /> effect is attached. The actual funds disbursement would not occur until the grant is approved <br /> and the property transaction is closed. A grant agreement addressing the terms of the funding <br /> is attached. <br /> FINANCIAL IMPACT: The appraised value of the property is $725,000 ($56,641 per acre). <br /> Based on this appraisal the Botanical Garden Foundation has requested a grant in the amount <br /> of $550,000 from the Clean Water Management Trust Fund. In addition to the Clean Water <br /> grant request, other funding amounts are $25,000 from the Botanical Garden Foundation, <br /> $50,000 from the Town of Chapel Hill and the requested $100,000 from Orange County. <br /> If approved, County funding for the project would come from the Lands Legacy Fund <br /> (approximately $2.85 million remaining). <br /> SOCIAL JUSTICE IMPACT: There is no identified Social Justice Impact with this funding <br /> request. <br /> RECOMMENDATION(S): The Manager recommends that the Board 1) approve the draft letter <br /> indicating the County's intention to provide the matching funds of $100,000, contingent upon <br /> approval of the Clean Water Management Trust Fund grant, and convey the letter to the <br /> Botanical Garden Foundation for transmittal to the Clean Water Management Trust Fund; and 2) <br /> authorize the Manager to sign the attached grant agreement, subject to final review by the <br /> County Attorney. <br />