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2 <br />The remaining funding needed for the purchase is approximately $4.89 million (with a total <br />project cost of approximately $6.89 million). Additional grant applications have been <br />submitted to the N.C. Natural Heritage Trust Fund and the Clean Water Management Trust <br />Fund that would cover the differential. The State's option to purchase expires on December <br />31. 2003. Additional details on the project may be found in the project summary submitted <br />by the Eno River Association (attached). <br />The Association asks that the County endorse this effort, and a resolution of support has <br />been drafted (attached). The acquisition of this portion of the Dubose Tract is consistent with <br />the goals and priorities of the Lands Legacy program, which seeks to conserve the County's <br />highest priority natural and cultural resource lands. This land has long been identified as a <br />critical natural area within the County. <br />FINANCIAL IMPACT: None. The acquisition is being funded by the State, via current and <br />proposed funds from the grant sources listed. A total of $2,007,207 has been committed to <br />date, with $4,880,400 remaining. Grant requests have been submitted to address the <br />reminder of funds needed. It is not known what course the State will pursue if funds are not <br />allocated in the amounts requested toward this purchase ($6.89 million in total, or $8,442 per <br />acre). <br />RECOMMENDATION(S): The Manager recommends that the Board approve the attached <br />resolution of support and authorize the Chair to sign on behalf of Orange County.