Agenda - 01-24-2005-5f - Laserfiche WebLink

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ATTACHMENT 4 Conservation Easements Capital Project Ordinance /b Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized provides funds for the acquisition of conservation easements to help preserve County farmland with a priority placed on farms with a strong conservation track record in water supply watersheds. Financing for the project includes proceeds from private placement loans and federal grant funds from the USDA Natural Resource Conservation Service. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following revenue is anticipated to complete this project: Through FY 2003- 04 FY 2004-05 Through FY 2004- 05 Sales Tax $0 $0 $0 Bond Funds $0 $0 $0 Private Placement $1,000,000 $500,000 $1,500,000 Grant Funds $1,422,995 $0 $1,422,995 Fees $0 $0 $0 Transfer from Lands Legacy Capital Project $0 $27,000 $27,000 Total Funding $2,422,995 $527,000 $2,949,995 Section 4. The followingi amount is appropriated for this project: Through FY 2003- 04 FY 200405 Through FY 200 05 Land/Building: Walters Easement $725,000 $0 $725,000 Volpe Easement $73,100 $0 $73,100 Cheek Easement $580,000 $0 $580,000 McPherson Easement $0 $68,000 $68,000 Ward Easement $0 $444,750 $444,750 Lloyd Easement $0 $219,000 $219,000 Unallocated $1,044,895 ($204,750) $840,145 Total Land/Building $2,422,995 $527,000 $2,949,995 Design $0 0 $o Construction $0 0 $0 Total Costs $2,422,995 $527,000 $2,949,995 Section 5. This ordinance supersedes all previous Conservation Easements Capital Project Ordinances for Orange County. Section 6. This ordinance shall remain in effect until June 30, 2005. Adopted this 24th day of January 2005.