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FUNDING Meeting North Carolina's land protection goals requires resources for both actual land protection and for the management of the programs that facilitate land protection. Presently, this financial support comes from a number of sources including donations from private citizens and businesses, federal grants, local government expenditures, state appropriations, state tax incentives, and through the funding mechanisms of four trust funds. A great many of the acres protected were partially or fully p.-;d for using grants from the Clean Water Management Trust Fund, Natural Heritage Trust Fund, Parks and Recreation Trust Fund, or the Farmland Preservation Trust Fund. The Conservation Tax Credit Program has also been instrumental in facilitating donations of open space by offering tax incentives to the donors. This program has allowed for the donation of 82,000 acres of land over its eighteen -year life. Continued support for these four trust funds and for the Conservation Tax Credit Program is essential if we are to meet the goal of protecting one million additional acres of farmland, conservation land and other open spaces. Environmental Finance Center (EFC) Report At the request of the Department of Environment and Natural Resources, the Environmental Finance Center at the University of North Carolina, Chapel Hill (EFC) completed a study on the costs and funding options for the North Carolina Million Acre Initiative. This report was released in February 2001. The full report, about 75 pages long, is available on line at: http: / /www.efc.unc. edu/ projects/ MillionAcresI MillionAcresReportFinalColor.pdf Highlights of the EFC Report Amount of land currently being protected: • At present funding levels, between 43,000 and 63,000 acres per year are being protected in ways that meet the Million Acre Mandate (G.S. § 133A -241). Costs of funding "the gap" • Additional costs, over and above FY 2000 funding levels, are expected to range from $95 million per year to $270 million per year, with a reasonable point estimate of $125 million per year, for the next 10 years. Local fiscal impacts • The maximum estimated county property tax revenue loss (without considering offsetting gains in property values) from state acquisition of the entire one million acres of conservation property is $9 million. Further research and implementation • The state should provide administrative funding to coordinate open space planning and tracking. • The maximum benefits from land preservation will only occur if acquisitions are made in conjunction with some coordinated planning. 13 The report blends information gained from both stakeholder meetings and individual communications with people experienced in land protection in North Carolina. It was developed with data collected from state and federal agencies, local governments, nonprofit land trusts, environmental groups, business and development interests, and