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Agenda - 11-07-2024; 8-f - Resolution of Approval – Donated Conservation Easement on Property of William Bruce and Phyllis Richmond
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Agenda - 11-07-2024; 8-f - Resolution of Approval – Donated Conservation Easement on Property of William Bruce and Phyllis Richmond
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BOCC
Date
11/7/2024
Meeting Type
Business
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Agenda
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8-f
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2 <br /> forestry uses outside of the required stream buffers. All other non-agricultural and residential <br /> development rights will be extinguished through the conservation easement. <br /> The planned conservation easement areas are depicted on the attached survey plat. The draft <br /> deed of conservation easement is also provided. <br /> FINANCIAL IMPACT: As the value of the conservation easement will be donated, the only costs <br /> to the County will be transactional and closing costs, part of which is subsidized by a State of <br /> North Carolina Land and Water Fund grant. <br /> DEAPR worked with the Eno River Association to identify the NC Land and Water Fund grant as <br /> follows: <br /> Orange County (Conservation Easement Fund) $ 16,500 <br /> NC Land and Water Fund (NCLWF) 10,780 <br /> $ 27,280 (transaction) <br /> The closing and transactional costs bring the estimated total at closing to $28,000. <br /> Funds for the easement purchase would come from Orange County ($16,500 for survey) and <br /> NCLWF ($10,780 for contract administration, legal and closing costs). <br /> The County's share of funds ($16,500) would come from existing funds budgeted and approved <br /> for the Lands Legacy program (Conservation Easement Fund). <br /> The Richmond property is enrolled in the Present Use Value taxation program, so the <br /> conservation easement would not lessen the amount of property taxes paid to the County. There <br /> would be no decrease in the property's market value caused by the conservation easement (and <br /> extinguishing of portion of its development rights) since it would not lower the property value to a <br /> level that is less than the current present use value. <br /> With this allocation, approximately $1.49 million remains available in the Conservation Easement <br /> Capital Project. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 1: ENVIRONMENTAL PROTECTION AND CLIMATE ACTION <br /> OBJECTIVE 6. Protect water supply/watersheds. <br /> OBJECTIVE 7. Conserve and protect high priority open space, including Natural Heritage <br /> sites, nature preserves, watershed riparian buffers, and prime/threatened farmland. <br /> RECOMMENDATION(S): The Manager recommends that the Board adopt and authorize the <br /> Chair to sign the resolution approving the acceptance by Orange County of the conservation <br /> easement and authorize the Chair and the Clerk to sign the conservation easement agreement, <br /> subject to final review by staff and County Attorney, with a closing and recordation of the document <br /> expected to occur on or about January 30, 2025. <br />
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