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2 <br /> The draft Action Plan Is consistent with the Lands Legacy Long-Term Priorities document <br /> (2002-2010)that was adopted by the Board in April, 2001. <br /> The Town of Carrbom has requested that the Lands Legacy Program include funding for <br /> acquisition of the Adams Tract, a 29 1 tract along Bolin Creek in Cambium, as a <br /> potential joint project A separate memorandum is attached on this subject. <br /> FINANCIAL IMPACT: Funds to accomplish the fail projects for FY 2002-2003 are <br /> present in the current CIP and other existing sources, including appropriations from the <br /> 2001 Parks and Open Space bond, alternative financing for conservation easements, and <br /> the Lands Legacy Fund (payers-you go funding). Where known, the proposed funding <br /> source is listed in the attached Action Plan (Table 1). Final decisions on funding for land <br /> acquisitions are considered as purchases are presented for approval in open session. As <br /> in previous acquisitions, In each case separate project budgets with specific funding <br /> streams and amounts will be addressed at that time <br /> Carrboro's request for the Adams Tract acquisition is that funds from the 2001 Parks and <br /> Open Space bond planned for Capboro greanways be used for this project. A total of <br /> $750,000 was allocated for this project in the bond referendum, and the Town has <br /> requested that the full amount be applied to this acquitted, as needed. The Board may <br /> wish to discuss whether the matching funds expectation for joint parks projects should <br /> apply in this case. <br /> RECOMMENDATION(S): The Manager recommends that the Board discuss and adopt <br /> the Annual Action Plan for 2002-2003,with any desired revisions. The Manager also <br /> recommends that the Board discuss the potential addition of the Adams Tract to the <br /> Annual Action Plan, as outlined in the attached memorandum and letter from Canbom <br /> Mayor Mike Nelson. <br />