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i ~ <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: March 21, 2000 <br />Action Agenda <br />Item No. _`7-a <br />SUBJECT: Installment Purchase of Land from Duke Univers' and Acce tance of Grant <br />DEPARTMENT: Environment and Resource PUBLIC HEARING: (Y/N) Yes <br />Conservation <br />ATTACHMENT(S): <br />• Attachment A -Resolution of Purchase <br />• Attachment B -Property Deed <br />• Attachment C -Installment Purchase <br />Promissory Note <br />Attachment D -Installment Purchase <br />Deed of Trust <br />• Attachment E -Draft Grant Agreement <br />with Exhibit A <br />• Attachment F -Draft Declaration of <br />Covenants with Exhibit A <br />• Attachment G -Draft Conservation <br />Easement <br />• Attachment H -Environmental Resources <br />Conservation Capital Project Ordinance <br />• Attachment I -Survey Plat <br />INFORMATION CONTACT: <br />Geof Gledhill, 732-2196 <br />Dave Stancil, 245-2590 <br />Rich Shaw, 245-2591 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To hold a public hearing on a resolution authorizing the installment purchase of <br />land from Duke University, and to approve a grant agreement with the Clean Water <br />Management Trust Fund for a grant of $143,000. The public hearing is required for any <br />acquisitions of property via an installment purchase (consistent with the provisions of N.C.G.S. <br />160A-20). <br />BACKGROUND: In early 1999, the Board considered the purchase of a 63-acre tract of land in <br />Cheeks Township formerly part of Duke Forest. The Board agreed to an option in the spring of <br />1999 to purchase the property from Duke at a price of $280,000, and authorized the submittal <br />of a grant to the Clean Water Management Trust Fund. A $143,000 grant was awarded to the <br />County in November 1999, and the Board agreed to exercise the option to purchase on <br />December 7, 1999. The remaining funds required to purchase the property will come from the <br />County's pay-as-you go funds budgeted in the Environmental Resources Conservation Capital <br />Project along with interest from the School/Parks Capital Reserve Fund. <br />Since that time, the County Attorney, ERCD staff and representatives from Duke have worked <br />out a schedule for purchase that would have a closing date of March 31, 2000. The Attorney <br />and ERCD staff have also worked out details of the grant agreement with the Clean Water <br />Management Trust Fund (attached). The financial details of the purchase and the grant are <br />