CFE 011303 - Laserfiche WebLink

Browse Search

2 At the November 19 special presentation , Carrboro Assistant to the Town Manager Richard White spoke regarding the Town ' s interest in this acquisition . Five additional persons spoke in support on the acquisition of the Adams Tract . An attached staff memo attempts to collate new information received ( both on November 19 and in subsequent conversations ) , and provides a possible scenario of County involvement . In summary , this memorandum notes the following : ➢ That the Town ' s $ 200 , 000 grant award from the Clean Water Management Trust Fund is tentative , to be finalized on December 10t" ➢ The most recent appraisal of the property is $ 1 . 35 million ➢ The Joint Town/County Open Space funding in the CIP provides for $ 400 , 000 in this fiscal year ( 2001 bond — first bond sale ) ➢ One potential scenario of County involvement could provide matching funds for the Clean water grant ( $ 200 , 000 ) , plus an additional $ 200 , 000 from the current year appropriation , and a "dollar-for- dollar" match of other future Town /other funds , up to $ 350 , 000 total . ➢ That the conditions of County involvement could be addressed through 1 ) a conservation easement , granted by Carrboro to Orange County and other parties , that prohibits undesired uses , 2 ) a "Joint Use " Memorandum of Agreement , 3 ) deed restrictions and 4 ) resolutions adopted by both boards as to the planned uses of the property . FINANCIAL IMPACT : If the County chooses to participate in this acquisition in the manner outlined in the attached memorandum , the $ 400 , 000 appropriated for Town greenways ( Joint Town / County open space ) in the 2002 - 03 Fiscal Year would be identified for this project ( contingent on the County ' s conditions of participation ) . An additional amount , a dollar-for- dollar match up to $ 350 , 000 , would also be identified from the Lands Legacy fund ( either 2001 bond funds or pay- as -you go funding ) . The latter amount would require a repayment over time of 50 % of the Lands Legacy portion . In this scenario , County funding participation would be conditioned on the completion of a conservation easement by December 31 , 2003 . RECOMMENDATION ( S ) : The Manager recommends that the Board discuss the scenario outlined in the attached memorandum and agree to participate with the Town of Carrboro ( providing a local government match for the Clean Water Management Trust Fund ) as outlined in the memorandum , contingent upon the conditions proposed .