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Agenda - 09-19-2006-10a
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Agenda - 09-19-2006-10a
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9/2/2008 4:31:43 AM
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8/29/2008 9:48:04 AM
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BOCC
Date
9/19/2006
Document Type
Agenda
Agenda Item
10a
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Minutes - 20060919
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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Since that time, plans have slowly moved forward on the next steps for the Greene Tract, the <br />first of which was a conservation easement to be placed on the 86-acres of "open space" that is <br />jointly held, Progress toward this easement renewed in earnest in 2005, with Triangle Land <br />Conservancy (TLC) asked about its interest in being afourth-party easement holder for the 86- <br />acres of open space, to ensure long-term protection. After site visits to the property and <br />several meetings with staff, the TLC Land Committee has recommended approval of holding an <br />easement on the 86-acres.. However, the committee also recommended that the 60 acres <br />owned by Orange County should be protected (either through inclusion in a separate easement <br />or by formal inclusion in the County's Lands Legacy Program), The TLC Board of Directors met <br />on May 17 and considered the proposed easement, The TLC Board then adopted a resolution, <br />as follows: <br />The Board of Directors supports TLC's partiripafion in the Greene) tract transaction conditional <br />upon: 1, the parties placing conservation easements on the jointly owned parcel OR agreeing to <br />give up the development rights on the parcels,° 2, Orange County agreeing to place their <br />contiguous parcel into conservation,° and 3, the government entities covering all transaction and <br />stewardship costs. If potential risks are discovered with regards to the landfill, TLC will take <br />appropriate measures to deal with the situation and reassess the project, <br />Related to the final note, the TLC Board also asked its staff to investigate further any issues <br />related to the property's adjacency to a landfill, <br />The 60-acres transferred to the County in 2000 were selected for dual purposes of protecting <br />open space and hardwood forest areas, and providing for some passible future solid waste <br />ancillary activities along the rail line, <br />A factor related to the formal protection of these 60 acres (and the 86 acres in the jointly-held <br />portion) is that the use of the Greene Tract for non-solid waste purposes is the triggering <br />mechanism far repayment of the Greene Tract purchase price to the Solid Waste Enterprise <br />Fund, This cost is the purchase price plus interest, which has accrued since 1984. The <br />attached chart illustrates the cast of this repayment for both the County and Town portions of <br />the jointly owned land and the County's 60 acres, <br />The Board has not yet considered the funding sources or funding timetable for this repayment. <br />The Greene Tract is tentatively slated for discussion at the September 21 Assembly of <br />Governments meeting. <br />FINANCIAL IMPACT: As noted in the attached repayment chart, the financial implications of <br />officially designating the 60 acres far non-solid waste purposes are significant. This action will <br />trigger repayment to the Solid Waste Enterprise Fund of at least $533,468, with the exact <br />amount of interest to be determined based on the ultimate repayment payment schedules, That <br />schedule, and funding sources for the County's portion of the repayment, has not yet been <br />established. It is important to note that the repayment may occur over time, the duration of <br />which may be determined by the Board. <br />An additional amount will need to be repaid by the County and Towns (as shown on the <br />attached chart) once the official disposition of the remaining jointly-held lands for open space <br />and affordable housing is decided. If a conservation easement with TLC is placed on this joint <br />open space and/or the County's 60 acres, there will likely be a request for a stewardship <br />endowment for the long-term cast of monitoring„ The amount of this stewardship endowment is <br />
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