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2 <br /> Preservation Board (for historic/cultural resources); and the Parks and Recreation Council <br /> (for parklands, open space/trails). <br /> This Action Plan comes at a time where staff is mindful of several new developments that <br /> will affect the County's land conservation actions and decisions: <br /> • An improving regional economy — an upturn following the Great Recession <br /> (2008-12) providing more conservation opportunities and resulting in higher land <br /> values. <br /> • No more NC Conservation Tax Credit — The NC General Assembly eliminated <br /> one of the important incentives for landowners to donate conservation easements <br /> or enter into bargain sales. The tax credit program expired December 31, 2013. <br /> • Less funding from the State — Although the state budget includes funding for land <br /> conservation, the amount of grant funds available to local governments from the <br /> state trust funds has been reduced significantly. <br /> • County parks master plan update — The new Orange County Parks and <br /> Recreation Master Plan 2030 was completed and adopted in 2014. The plan helps <br /> guide future Lands Legacy program acquisitions related to parks, open space and <br /> trails, with an emphasis on completing planned and land-banked parks, and <br /> expanding and enhancing nature preserves. <br /> • County funding for conservation easements — The BOCC approved a biennial <br /> allocation of $500,000 in the Capital Investment Plan (CIP) for conservation <br /> easement purchases. These funds are expected to leverage outside funds from <br /> various sources. <br /> Most of the priority focus areas in the 2018-2020 Action Plan are multi-year projects <br /> repeated from previous action plans. This has often been in the case in prior Action Plans, <br /> as many of these projects take considerable time to come to fruition. A few potential new <br /> projects are offered for the Board's consideration. Details of each are provided on pages <br /> 4-5 of the action plan. Among the priorities in this three-year plan are: <br /> • Upper Eno Preserve/ • Wildlife and Natural <br /> Mountains-to-Sea Trail Connection Corridors between <br /> • Farmland Easements New Hope Creek and the Eno <br /> • Bingham Township Park River <br /> • Jordan Lake Headwaters • Local Historic Landmarks <br /> Preserve <br /> FINANCIAL IMPACT: Most of the funds available for this new three-year Action Plan are <br /> existing funds from prior appropriations of the Board. Much of the prior funding in the Lands <br /> Legacy Fund (current balance of $3,211,000) is from these prior appropriations, most of which <br /> tracks back to the voter-approved 2001 Parks and Open Space Bond (converted to alternative <br /> financing in 2010). The success in leveraging grant funds (over $5 million to date) has enabled <br /> the final installment of these funds to last into current and upcoming fiscal years. Additional <br /> funding sources for Lands Legacy activity include $482,000 in Parks and Open Space <br /> Payment-in-Lieu Funds (funds generated by new subdivision activity for parks, recreation and <br /> open space acquisition and construction — which must be used in the district collected). In <br /> addition, the Board allocated $500,000 biennial for the Conservation Easement Fund as part of <br />