Orange County NC Website
Browse       Search
Orange County Transfer of Development Rights Feasibility Study 18 <br />GRAFT Economic Feasibility Reporr <br />value of the land.Z For the type of conservation easements that would be used in a TDR <br />program in Orange County, the value usually varies between 50 percent and 80 percent <br />depending on the property's proximity to urban areas such as Chapel Hill, Hillsborough, <br />Mebane, and parts of Durham, When asked about the "percentage of fee value", <br />Analytical Consultants stated: <br />Filly percent is good for rural areas, but we've seen 70%+ for areas c%ser in to <br />Chapel Hill. During my discussions a few weeks ago with the various land <br />conservancy groups in the area, the Triangle Land Conservancy reported paying <br />more than 85% far areas c%se to Raleigh, so I think we have to assume that the <br />percentage value will continue to increase, -Analytical Consultants, May, 2006 <br />Based on Analytical Consultants input, a standard of 50 percent of total land value was <br />used for areas with little urban influence and 70 percent of total land value for areas <br />with urban influence (Table 2), Using these standards an analysis was conducted on the <br />value of conservation easements or TDR credits throughout the County. The analysis <br />applied the two different "percentage of fee value" standards to the median value of <br />vacant land in each Township, As shown in Table 3 (which includes municipalities), the <br />value of conservation easements or TDR credits varies significantly in Orange County. <br />Even within Township, the variation in land values is significant. <br />~ Paul Snow and Cheri DeROSia, Analytical Consultants, phone Interview and email correspondence, May <br />2006. <br />6.7.7006 <br />