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42 <br /> FINAL DRAFT-5-27-26 <br /> 7. Potential Sources of Funding <br /> This section describes the potential funding sources associated with Priority <br /> Action Steps outlined in Section 6 of this document. This list is not exhaustive. <br /> 7. 1. Taxes <br /> Deferred Taxes from Farmland Coming Out of the Present Use Value Program <br /> Establish a program to provide additional funding for farmland preservation <br /> through deferred property tax revenue generated when a farm operation <br /> ceases to be eligible for the Present Use Value (PUV) program. This program <br /> provides substantial property tax reductions for agriculture, allowing landowners <br /> to maintain economically viable farming and/or forestry operations, especially in <br /> areas experiencing rapidly increasing property values. When land enrolled in the <br /> PUV program ceases to be used for farming or timber (usually when sold for <br /> development), the owner must repay the deferred taxes for the year of <br /> disqualification and the prior three years. Other counties in or near rapidly <br /> growing metro areas, such as Alamance, Cabarrus, Chatham, Iredell Lee, <br /> Rowan and UnionWake,and, have recently adopted this approach as a key <br /> component of their farmland preservation efforts. This method creates a direct <br /> linkage between the loss of farmland due to development and county farmland <br /> preservation. <br /> 7.2. Grants <br /> Agricultural Development and Farmland Preservation Trust Fund. <br /> The NC Agricultural Development and Farmland Preservation Trust Fund (ADFP), <br /> administered by the NC Department of Agriculture and Consumer Services (NC <br /> DA&CS) Division of Farmland Preservation. This program provides funding for <br /> preservation of farming, forestry, and horticulture industries in North Carolina. <br /> ADFP promotes sustainable farming through the purchase of agricultural <br /> conservation easements, conservation agreements and the funding of public <br /> and private enterprise programs that assist farmers in developing plans to <br /> maintain sustainable and profitable food production and marketing activities. <br /> Orange County has been successful in obtaining ADFP grant funds. From: <br /> https://www.ncogr.gov/adfp <br /> Golden Leaf <br /> The material below is quoted or paraphrased directly from <br /> https://Qoldenleaf.org: The Golden LEAF Foundation, a North Carolina grant- <br /> making organization, helps eligible state, regional and local economic <br /> development entities with job creation projects in tobacco-dependent or <br /> 40 <br />