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4 <br /> iptic <br /> TRIANGLE LAND <br /> CONSERVANCY <br /> 1.0 MAMA , <br /> February 15, 2019 <br /> Mr. David Stancil <br /> Department Director DEAPR <br /> 306A Revere Road <br /> Hillsborough, NC 27278 <br /> Via Email to dstancil@orangecountync.gov <br /> Re: Buzzlitz Conservation Project Grant Request <br /> Dear Mr. Stancil, <br /> On behalf of the Triangle Land Conservancy (Hereafter TLC) I am writing to request funding <br /> from Orange County in the amount of$109,260 to be used for the purchase by TLC of <br /> approximately 60 acres of conservation land in the Stony Creek watershed. At the County's <br /> option, TLC will convey a conservation or access easement on the property to the County in <br /> exchange for this grant funding. <br /> Project Status <br /> • TLC has a signed agreement with the property owner to purchase the tract for $739,260, <br /> which is $310,740 less than the most recent appraised value and $510,740 less than the <br /> land owner believes the property to be worth. The landowner will donate at least <br /> $310,740 in land value for the project. Additional project costs include survey and legal <br /> expenses of$11,200 and stewardship endowment funding of$5,000, bringing the total <br /> project cost to $1,067,700. <br /> • TLC applied for funding for this project from the City of Raleigh through its Upper Neuse <br /> Clean Water Initiative. <br /> • Funding from Raleigh was approved by the Raleigh City Council in January 2019 in <br /> the amount of$105,000. <br /> ■ TLC has been negotiating with this landowner for many years and has finally secured <br /> an agreement to purchase the property. TLC is aided in this effort with an <br /> anonymous contribution of$325,000 specifically to purchase this property. <br />