Agenda - 12-01-2003-5b - Laserfiche WebLink

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ERCD staff and the County Attorney have worked with the Volpes to craft an easement that meets the family's needs and the County's interests. The proposed easement area (23.5 acres) would protect a 300-foot riparian corridor and an adjacent hardwood forest slope. Future development rights would be relinquished through the easement, with the exception of pedestrian trails and sitting areas within the woodlands existing ar to be constructed by the Volpes. The purchase price for the easement is $70,600 and is based on a market appraisal of the property. FINANCIAL IMPACT: The Volpes have agreed to "sell" the conservation easement at the appraised value of $70,600, or $3,260 per acre. The cost of the easement purchase will be funded from available alternative financing funds for conservation easements issued in 2002, Orange County (ERCD) will assume the task of monitoring the property on an annual basis and helping to enforce the development restrictions. Orange County will also pay an estimated $2,500 in transaction costs, These County costs (totaling $73,100), will come from the $1,000,000 in alternative financing approved by the Board of Commissioners in FY 2002- 03, and in accordance with the Conservation Easement Capital Project Ordinance approved by the Board on March 24, 2003, The attached Conservation Easements Capital Project Ordinance allocates $73,100 of the $1,000,000 towards this purchase, RECOMMENDATION(S): The Manager recommends that the Board adopt 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 the county attorney; and approve the attached Conservation Easements Capital Project Ordinance.