Agenda - 06-04-2024; 8-f - Approval to Purchase Real Property - Kittrell-McAdoo Tract, and Grant of Conservation Easement to North Carolina Land and Water Fund

Browse Search

2 segment of Rocky Run, give the parcel an added significance for natural and ecosystem importance beyond also being a connector for the MST. As such, this property ranks in the "High" category for conservation acquisition assessment, and it is shown on the BOCC adopted MST Trail Route of January 2018. In previous action the Board authorized staff to conduct an appraisal, identify funding sources, work to gather additional closing materials, and negotiate potential offers through the Eno River Association. Two appraisals were conducted, yielding a land value of $438,000. ERA staff, working in conjunction with County staff, applied for and received approval of a grant award from the North Carolina Land and Water Fund (NCLWF)for up to $238,760. The NCLWF grant requires that a State-held easement be recorded concurrently with the purchase, and that the Eno River Association monitor the easement in perpetuity. With the option to purchase in place, staff and partners at the Eno River Association would continue to explore and apply for other possible accompanying grants to further offset the total project costs. Significance • The presence of State identified Natural Heritage sites • Presence of a significant segment of Rocky Run Creek (Upper Eno and Falls Lake watershed) • Adjacent to historic Moorefields, an Orange County Local Landmark and National Register of Historic Places site • Close proximity to the County-owned Seven Mile Creek Natural Area, and other areas of high cultural/archaeological significance • Contains a portion of the MST corridor, connecting the Occoneechee Mountain area to Seven Mile Creek Natural Area Due to these factors, conservation of this tract is ranked among the highest priorities for the Lands Legacy Program and the Mountains to Sea Trail project. FINANCIAL IMPACT: The appraised value of the property is $438,500, which was determined by an appraisal by Kirkland Appraisals, LLC. The purchase price for the property is $438,500, the full appraised value. Additional costs, including closing and transactional costs, bring the estimated total at closing to $466,760. DEAPR worked with the Eno River Association to identify the following funding sources: Orange County (Lands Legacy) $ 228,000 (49%) NC Land and Water Fund (NCLWF) $ 238,760 (51%) Eno River Association (Baseline Report) $ 2,500 (<1%) $ 469,260 (acquisition + transaction) Funds for the purchase would come from Orange County ($215,500 of the purchase price plus $12,500 for survey, legal and closing costs), and NCLWF ($223,000 of purchase price plus $15,760 for contract administration and stewardship endowment costs). The County's share of funds ($228,000) would come from existing funds budgeted and approved for the Lands Legacy program (Lands Legacy Fund).