APB agenda 082003 - Laserfiche WebLink

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'I Briefing Note — Hillsborough Livestock Market Background. The Livestock market in Hillsborough was estab- lished in 1941 on 15 acres sold by Orange County to the Durham Farmers Mutual Exchange for a total price of $10. An additional, 95.5 acres were similarly sold for $2.,500 in 1942. Though it was the ;.,rent thwt tha land should be used for a livestock market for servicing Orange County farmers, and it has in fact done so for 40+ years, the deeds do not state that the land must be so used in perpetuity, nor is there any provision for the land to revert beck to Orange County should it cease to be used fora livestock market. Operations, Currently the market holds sales on Mondays, and the average volume of 250 animal units per week is composed of culls from dairy herds, baby bull calves, cull beef cows, feeder battle, market weight hogs, cull sows, boars, feeder pigs. Also, graded feeder cattle and yearling sales are held four times per year. Employment at the market is 5 full —time people and 7 -10 additional persons on market days. The full —time employees spend most of their time on swine contacts, and will be retained when the market closes. Profit /cost figures are not available. Goldkist, the market operator, states that the market operation covers costs, but does not make a profit. The building and equipment are fully depreciated, and the operating budget does not include sums for rent, replacement or maintenance.