Orange County NC Website
Browse       Search
2 <br /> The planned conservation easement areas are depicted on the attached site map. The draft deed <br /> of conservation easement and survey are also provided. <br /> FINANCIAL IMPACT: The appraised value of the conservation easement is $411,000, which was <br /> determined by an appraisal by Kirkland Appraisals, LLC. <br /> The purchase price for the conservation easement is $411,000, the full appraised value. <br /> Additional costs, including closing and transactional costs, bring the estimated total at closing to <br /> $427,500. Staff worked with the landowners to identify the following budget: <br /> Orange County (Lands Legacy) $ 222,000 <br /> RambleRill Farms (Owner Donation) $ 205,500 <br /> $427,500 (acquisition + transaction) <br /> Funds for the easement purchase would come from Orange County ($205,500 purchase price <br /> plus $16,500 for survey, legal and closing costs), and a donation from the landowners for half of <br /> the appraised value ($205,500 purchase price). <br /> The County's share of funds ($222,000) would come from existing funds budgeted and approved <br /> for the Lands Legacy program (Conservation Easement Fund). <br /> The RambleRill Farms 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 $1.029 million remains available in the Lands Legacy <br /> Conservation Easement account. This amount does not include funds already appropriated for <br /> approved projects or pending closing. <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 between July and September 2025. <br />