Agenda 09-03-19 Item 8-l - Resolution of Approval – Conservation Easement on Triangle Land Conservancy-McQueen Property

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2 The planned conservation easement would be held by Orange County. All development rights will be extinguished through the conservation easement. The planned conservation easement area is depicted on the attached site map. A draft deed of conservation easement is also provided. FINANCIAL IMPACT: TLC would donate the conservation easement to Orange County and TLC would cover all transaction fees. There would be no cost to the County. The McQueen property is enrolled in the Present Use Value taxation program, so the conservation easement does not lessen the amount of property taxes paid to the County. The decrease in the property's market value caused by the conservation easement (and extinguishing of its development rights) will not lower the property value to a level that is less than the present farm use value. SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact associated with this item. ENVIRONMENTAL IMPACT: The following Orange County Environmental Responsibility Goal impacts are applicable to this item: • RESULTANT IMPACT ON NATURAL RESOURCES AND AIR QUALITY (Assess and where possible mitigate adverse impacts created to the natural resources of the site and adjoining area. Minimize production of greenhouse gases.) The conservation of this land by Triangle Land Conservancy and the conservation easement held by Orange County will protect an area of mixed mature hardwoods, which provide important wildlife habitat, and will protect 2,300 linear feet of a stream that feeds into University Lake, a water supply for OWASA. RECOMMENDATION(S): The Manager recommends the Board adopt and authorize the Chair to sign the resolution approving the acceptance by Orange County of the conservation easement, and authorize the Chair and the Clerk to sign the conservation easement agreement, subject to final review by staff and County Attorney, with a closing and recordation of the document expected to occur on or about December 31, 2019.