Orange County NC Website
A conservation easement on the 15 acres would add to the existing 320 acres of land <br />protected with Orange County farm conservation easements in the immediate area. This <br />property is adjacent to the protected Center Stream Farm and Center Stream Farm Addition <br />(72 acres - first Orange County conservation easement acquired in July 2001 and 25 acres <br />acquired December 2017, respectively) owned and operated by Fickle Creek Land <br />Company, LLC. To the north and east of that farm is CarlsBeth Farm (223 acres), which is <br />also under a farm easement held by the County (December 2003). The conservation of these <br />adjoining properties would increase the permanent protection of farmland in the immediate <br />area to 335 acres. One of the espoused goals on the agricultural conservation easement <br />initiative is to help conserve "critical mass" of connected adjacent farmland for future <br />production. <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 />The planned agricultural conservation easement area is depicted on the attached site map. <br />A draft deed of conservation easement is also provided. <br />FINANCIAL IMPACT: The easement purchase price is $51,000, 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 />Funds for the easement purchase would come from Orange County ($51,000 purchase price <br />plus $3,500 for closing costs). <br />The County's share of funds ($54,500) would come from existing funds budgeted and <br />approved for the Lands Legacy program (Land Legacy Fund). <br />The High Rock Road farmland 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 />With this allocation, approximately $2.95 million remains available in the Lands Legacy <br />Capital Project. The following Budget Amendment #4 -A provides for the use of the above <br />mentioned funds, and amends the following Capital Project Ordinances: <br />Lands Legacy Capital Project (- $54,500) - Project #20011 <br />Revenues for this Droiect: <br />Current <br />FY 2017 -18 <br />FY 2017 -18 <br />Amendment <br />FY 2017 -18 <br />Revised <br />Alternative Financing <br />$3,158,472 <br />$54,500 <br />$3,103,972 <br />From General Fund <br />$42,697 <br />$0 <br />$42,697 <br />Donations <br />$1,000 <br />$0 <br />$1,000 <br />Appropriated Fund Balance <br />$9,337 <br />$0 <br />$9,337 <br />Total Project Funding <br />$3,211,506 <br />($54,500) <br />$3,157,006 <br />