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2 <br /> The Moorefields Foundation intends to grant permanent conservation easement(s)that will restrict <br /> future development to protect prime open space and streams, as well as scenic views of the open <br /> space from Moorefields Road and the adjacent County park. The Foundation also intends to grant <br /> a trail easement for the Mountains to Sea Trail, allowing for further extension from the County <br /> owned lands east towards Dimmocks Mill Road. All other non-agricultural and historical <br /> restoration/renovation development rights will be extinguished through the conservation <br /> easement. <br /> There will be three separate yet concurrent easements on the property. The Natural Heritage Area <br /> and stream buffers will be held in easement by the North Carolina Land and Water Fund <br /> (NCLWF), and monitored by the Eno River Association through State contract. The remaining <br /> open lands planned conservation easements would be held jointly by Orange County and the Eno <br /> River Association. This easement would enhance the protection of this historic home and <br /> grounds, which is listed on the National Register of Historic Places. The trail easement will be <br /> held by Orange County with planning, management, and construction assistance with the Friends <br /> of the Mountains to Sea Trail. <br /> The planned conservation easement areas are depicted on the attached site map. The draft deeds <br /> of conservation easement and the trail easement are also provided. <br /> FINANCIAL IMPACT: The appraised value of the conservation easement is $360,000, which was <br /> determined with an appraisal by Kirkland Appraisals, LLC. <br /> The purchase price for the conservation easement is $360,000, the full appraised value. <br /> Additional costs, including closing and transactional costs, bring the estimated total at closing to <br /> $385,500. <br /> DEAPR worked with the Eno River Association to identify the following funding sources: <br /> Orange County (Lands Legacy) $ 261,458 (68%) <br /> NC Land and Water Fund (NCLWF) $ 111,042 (29%) <br /> Eno River Association (Triangle Community Foundation grant) $ 13,000 (3%) <br /> $385,500 <br /> (acquisition and <br /> transaction) <br /> Funds for the easement purchase would come from Orange County ($248,958 purchase price <br /> plus $12,500 for survey, legal and closing costs), NCLWF ($111,042 purchase price), and Triangle <br /> Community Foundation ($13,000 for transaction costs). <br /> The County's share of funds ($261,458) would come from existing funds budgeted and approved <br /> for the Lands Legacy Program (Land Legacy Fund). <br /> The following funding sources support the easement outside of financial impact to Orange County: <br /> NCLWF ($8,618 stewardship), City of Raleigh ($7,152 for stewardship), and Eno River <br /> Association ($2,500 in-kind match for Baseline Report). <br /> The Draper-Savage Memorial Foundation property is enrolled in the Present Use Value taxation <br /> program, so the conservation easement would not lessen the amount of property taxes paid to <br /> the County. There would be no decrease in the property's market value caused by the <br />