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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 15; 2001 <br />Action Agenda <br />Item No. _ r] - Q <br />SUBJECT: Public Hearing on Installment Contract to Purchase Land -Seven-Mile Creek <br />Preserve Ma es' Hill, Ltd. <br />DEPARTMENT: ERCD PUBLIC HEARING: (Y/N) Yes <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Property Map David Stancil, 245-2590 <br />Resolution of Purchase Rich Shaw, 245-2591 <br />Offer to Purchase and Contract TELEPHONE NUMBERS: _ <br />Installment Purchase Promissory Note Hillsborough 732-8181 <br />Installment Purchase Deed of Trust Chapel Hill. 968501 <br />Durham fi88-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To hold a public hearing on a resolution authorizing the installment purchase of <br />two tracts of land (total 131 acres) east of Mt. Willing Road for addition to the Seven-Mile Creek <br />Preserve. The public hearing is required for any acquisitions of property via an installment <br />purchase (consistent with the provisions of NCGS 160A-20). <br />BACKGROUND: In the 1970's, the County purchased 160 acres of land in the Seven-Mile <br />Creek basin southwest of Hillsborough for watershed protection purposes. The Seven-Mile <br />Creek area contains two of the County's most significant Natural Heritage sites, and remains a <br />largely undeveloped sub-basin with substantial areas of wildlife refuge. Because of this <br />ecological significance, and the notation on the Master Recreation and Parks Element of the <br />Plan for a district park in this area, the creation of a Seven-Mile Creek Preserve was identified <br />as a Lands Legacy program priority. <br />In the summer of 2000, ERCD staff was approached by the owner of lands in the area about <br />the County's interest in acquiring lands that would soon go on the market. Negotiations and <br />discussions regarding potential acquisitions began in the fall of last year. <br />On March 7'", ERCD sent Mayes' Hill, Ltd. an initial draft offer to purchase the property. <br />Following negotiations on contract terms and conditions, the owners have agreed to sell a <br />portion of the lands to Orange County. The proposed use is for the future Seven-Mile Creek <br />county nature preserve that is expected to feature low=impact recreational uses, such as nature <br />trails and picnic areas. The possibility also exists for having some future primitive camping <br />areas, meeting needs for low-impact recreation consistent with the Cheeks District Park shown <br />on the 1988 Master Parks Plan. <br />The County would pay the owners $538,740 for the property ($4,100/acre), plus $54,234 in <br />interest payments over a 59-month or less period at an interest rate of 5%. A Phase I <br />