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February, 2001 REPORT ON THE NC FARMLAND PRESERVATION TRUST FUND DEMONSTRATION PROJECT, YEAR THREE We are pleased to provide this report on the third year of the North Carolina Farmland Preservation Demonstration Project, which was again administered by the Conservation Trust for North Carolina for the N.C. Department of Agriculture and Consumer Services. Grant funds this year were awarded to two counties and six private land trusts to protect all or large parts of nine farms and 957 acres of agricultural land through permanent conservation easements. The $1,500,000 appropriation from the General Assembly for FY 2000 -01 affected the donations or bargain sales of non -farm development- rights that are estimated as close to $5 million in value. In total, the grants awarded from the General Assembly's appropriations to the NC Farmland Preservation Trust Fund ($250,000 in 1998, $500,000 in 1999, and $1,500,000 in 2000) have been used to acquire agricultural conservation easements on 2,869 acres on 20 farms. Grants were awarded to cover the transactional and monitoring costs for conservation easements donated by the owners of six of those farms. The grants awarded from the NC Farmland Preservation Trust Fund in its first three years have leveraged well over $10 million in local funds and equivalent values of donated development rights (a ratio of $1 state: $4 local funds /donation value). We are grateful for the opportunity to assist in the administration of this program, and we look forward to continued involvement in its future success. ,Sincerely, Charles E. Roe, CTNC Executive Director CONSERVATION TRUST FOR NORTH CAROLINA PO Box 33333 . RALEIGH, NC 27636 -3333 - PHONE 919 -828 -4199 - FAx 919- 828 -4508 EMAIL ctnc @mindspring.com - www.ctnc.org 17