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Agenda - 05-16-2000-8b
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Agenda - 05-16-2000-8b
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Last modified
9/1/2008 10:51:44 PM
Creation date
8/29/2008 11:18:19 AM
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BOCC
Date
5/16/2000
Document Type
Agenda
Agenda Item
8b
Document Relationships
2000 S ERCD - Little River Regional Park and Natural Area Exercise of Option to Purchase
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\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2000
Minutes - 05-16-2000
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Path:
\Board of County Commissioners\Minutes - Approved\2000's\2000
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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 16, 2000 <br />Action Agenda <br />Item No. ~^ <br />SUBJECT: Little River Re Tonal Park and Natural Area -Exercise of O tion to Purchase <br />DEPARTMENT: Environment and Resource PUBLIC HEARING: (Y/N) No <br />Conservation <br />ATTACHMENT(S): <br />- Option Agreement with Triangle <br />Community Foundation <br />-Site Map <br />- Preliminary Phase I Environmental <br />Assessment <br />- Project Funding Scenario <br />- Clean Water Grant Press Release <br />INFORMATION CONTACT: <br />Dave Stancil, 245-2590 <br />Rich Shaw, 245-2591 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider exercising an option to purchase 135.61 acres of land in Little River <br />Township from the Triangle Community Foundation, for the Little River Regional Park and <br />Natural Area in conjunction with Durham County, Triangle Land Conservancy and Eno River <br />Association). <br />BACKGROUND: On March 21, the Board agreed to an option to purchase a 135.61-acre <br />portion of a 390.91-acre tract owned by Triangle Community Foundation as part of the joint <br />Little River Regional Park and Natural Area. This land straddles the Orange-Durham County <br />line, and the parkland purchase is a joint initiative of Orange and Durham Counties, the Triangle <br />Land Conservancy (TLC) and the Eno River Association (ERA). The price of the option was <br />$9,000 for Orange County ($11,000, including $2,000 in option contributions received from TLC <br />and ERA). <br />To date, grant funds have been approved in the amount of $377,000 from the N.C. Clean Water <br />Management Trust Fund, and $250,000 from the N.C. Parks and Recreation Trust Fund (just <br />announced May 10). In addition, staff is proposing to submit another grant application for an <br />access roadway, parking area and trail development to the U.S. Land and Water Conservation <br />Fund. <br />Exercise of the option will have the County purchase, with a closing date of October 31,2000, its <br />portion of the property at a price of $352,586 (not including closing costs, option payments <br />already made, grants, and fund-raising commitments from TLC/ERA). The total purchase price <br />for all partners toward the 390.91 acres is $1,016,366. Durham County's portion of the <br />purchase is $663,780 (not including closing costs, option payments, grant funds). The above <br />grants ($627,000 total) and fund-raising commitments from TLC and ERA ($170,000 total) will <br />offset the two counties' costs. The purchase price is $2,600 per acre, and is based on two <br />
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