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Draft <br /> 4/ 28/ 99 <br /> Boulder County, CO — Nancy Dayton, (303) 678 - 6243 <br /> Methods of Acquiring Land <br /> Sales Tax : <br /> In 1993 passed a sales tax for acquiring land <br /> Revenue from so far between $ 4 and $ 4 . 5 million annually_, <br /> which the county uses to pay off bonds . <br /> • Sold idea of sales tax of 1/4 of a cent <br /> Needed carrots to help sell the idea - certain areas that <br /> everyone wants to stay . open . Able to work out arrangements <br /> to get them . <br /> In its life , it has generated $ 33 million , which has allowed the <br /> county to " power shop . " <br /> The community supported and initiated the sales tax idea . <br /> Had deals in place before the bonds to buy 4 - 5000 acre <br /> ranches <br /> Details of buying . <br /> Find property ownership where wanted to purchase the <br /> conservation easement <br /> Rolling option contract - purchase land over time , price set in <br /> the first year <br /> Pay about 6 % per annum on the balance <br /> The current board of county commissioners has to <br /> approve the purchase of the additional land on a yearly basis , <br /> but have every time so far <br /> Have some staff dedicated to just land acquisition on their <br /> staff, including an attorney and paralegal <br /> Start the negotiation with a letter of inquiry , which lays out <br /> the potential offer and seeks to determine the interest in the <br /> owners possibly selling the land <br /> • Follow - up with a letter of intent to buy the land . Includes <br /> an offer for x acres , legal description of the land , the amount <br /> of water/ mineral rights , other conditions of . the sell , lease <br /> back, etc . <br /> Haggle , settle , get contract with those terms in it . <br /> Will do a variety of things to get deal done <br /> . : Include the creation lots around beaten out house , add <br /> value to the seller ( can exempt subdivision policy if they can <br /> show a clear public purpose ) <br /> 1 / 35 acre zoning <br /> Join4t ' acquisition with the municipalities <br /> • SQme have own sales taxes <br /> Work also with the Trust with Public Lands , Nature <br /> Conservancy <br /> Open Space Task Force made up of a people , stakeholders , <br />