Agenda - 11-18-2003-8g - Laserfiche WebLink

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TLC will purchase the easement v~ith a grant from the NC Clean Water Management Trust Fund. TLC will assign the easement to Orange County for oversight of a future public walking trail along New Hope CreE;k. Orange County will then assign the conservation easement to the State of North C~~rolina, which will be the ultimate grantee and holder of the easement. Orange County will re:~erve from this conveyance the nonexclusive rights initially acquired by the conservation easement to monitor, observe, access, and enforce the easement for the conservation arn1 recreational purposes allowed therein. On September 16, 2003, the Board of Commissioners adopted a resolution approving Orange County's acceptance of tree conservation easement and authorizing the Chair to sign the easement documents pendinc final review by the County Attorney and staff. The documents have been finalized to the satisfaction of all parties. TLC will close on the conservation easement in early N~~vember and schedule a subsequent closing in late November for assignment of the easement to Orange County and the State of North Carolina. FINANCIAL IMPACT: The Triancile Land Conservancy will purchase the conservation easement and then convey the e~ sement to Orange County. Orange County (ERCD) will assume the task of monitoring the property on an annual basis and helping to enforce the development restrictions. Orange County may need to pay some transaction costs estimated to be less than $1,000, which would be paid from the Lands Legacy Fund. RECOMMENDATION(S): The Manager recommends that the Board authorize the Chair to sign the conservation easement assignment documents.