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