Orange County NC Website
<br /> <br />A conservation easement on the additional 25 acres would add to the existing 295 acres of <br />land protected with Orange County farm conservation easements in the immediate area. <br />These two parcels totaling 25 acres are adjacent to the protected Center Stream Farm (72 <br />acres - first Orange County conservation easement acquired in July 2001) owned and <br />operated by Fickle Creek Land Company, LLC. To the north and east of that farm is <br />CarlsBeth Farm (223 acres), which is also under a farm easement held by the County <br />(December 2003). The conservation of these adjoining properties would increase the <br />permanent protection of farmland in the immediate area to 320 acres. One of the espoused <br />goals on the agricultural conservation easement initiative is to help conserve “critical mass” <br />of connected adjacent farmland for future production. <br /> <br />The planned agricultural conservation easement would be held by Orange County. The <br />easement would complement the technical assistance from the Orange Soil and Water <br />Conservation District and will also protect stream buffers. <br /> <br />The planned agricultural conservation easement area is depicted on the attached site map. <br />A draft deed of conservation easement is also provided. <br /> <br />FINANCIAL IMPACT: The easement purchase price is $86,000, which is 100 percent of the <br />easement value as determined by an appraisal by Shackelford and Associates. Grant <br />funding for this easement was not practical due to the minimum size limitation of the typical <br />grant source requirements. <br /> <br />Funds for the easement purchase would come from Orange County ($86,000 purchase price <br />plus $7,000 for boundary survey and closing costs). <br /> <br />The County’s share of funds ($93,000) would come from existing funds budgeted and <br />approved for the Lands Legacy program (Land Legacy Fund). <br /> <br />The Fickle Creek Land Company, LLC property is enrolled in the Present Use Value taxation <br />program, so the conservation easement would not lessen the amount of property taxes paid <br />to the County. There would be no decrease in the property’s market value caused by the <br />conservation easement (and extinguishing of portion of its development rights) since it would <br />not lower the property value to a level that is less than the current present use value. <br /> <br />With this allocation, approximately $3.0 million remains available in the Lands Legacy Capital <br />Project. The following Budget Amendment #3-A provides for the use of the above mentioned <br />funds, and amends the following Capital Project Ordinances: <br /> Lands Legacy Capital Project (-$93,000) - Project #20011 <br /> <br />Revenues for this project: <br /> Current <br />FY 2017-18 <br />FY 2017-18 <br />Amendment <br />FY 2017-18 <br />Revised <br />Alternative Financing $3,251,472 ($93,000) $3,158,472 <br />From General Fund $42,697 $0 $42,697 <br />Donations $1,000 $0 $1,000 <br />Appropriated Fund Balance $9,337 $0 $9,337 <br />Total Project Funding $3,304,506 ($93,000) $3,211,506 <br /> <br /> Appropriated for this project: <br /> Current FY <br />2017-18 <br />FY 2017-18 <br />Amendment <br />FY 2017-18 <br />Revised <br />Lands Legacy Program $3,304,506 ($93,000) $3,211,506 <br />Total Costs $3,304,506 ($93,000) $3,211,506 <br />2