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2 <br />County staff has not formally evaluated this property, although it has been walked for <br />observation. Staff concurs that it is within the Jordan Lake Macrosite boundaries -albeit at the <br />farthest edge of the site. The high cost of the acquisition is supported by an appraisal of the <br />property, which is in an area that could receive urban services (the site could support one <br />residence). This, plus its location in the Town ETJ, would make it an unlikely candidate for <br />Lands Legacy acquisition. There is precedent, however, for providing funding assistance to <br />conservation groups toward acquisitions of important lands such as this site. The County <br />provided $55,000 in 2002 to the Eno River Association's acquisition of additional lands for Eno <br />River State Park that included Natural Heritage sites. So although this property is not a high <br />priority for Lands Legacy acquisition, the conservation values associated with this site merit <br />consideration of County assistance as a project partner. <br />FINANCIAL IMPACT: The total of funds raised or committed to date is $42,000, with $34,000 <br />from the Town of Chapel Hill, in whose jurisdiction the property lies. The Foundation needs to <br />raise $400,000 to acquire the property, and notes that significant additional private funds can <br />likely be raised with participation and commitment from the Town and County. <br />The property is expected to become part of the Stillhouse Bottom Nature Preserve, managed by <br />the Foundation, which does have some public access. The Lands Legacy Program currently <br />has $1.12 million in available 2001 Parks and Open Space bond funds, and $900,000 in the <br />Lands Legacy Opportunities Fund. Although there are a number of other potential acquisition <br />objectives for both funding sources, the County could probably contribute up to $50,000 without <br />jeopardizing those other acquisition priorities. <br />If the Board wishes to participate in providing funding assistance, staff suggests matching the <br />funding provided by the Town of Chapel Hill ($34,000) from the Lands Legacy Opportunities <br />Fund, with the potential to increase that amount to a maximum of $50,000 if matched by the <br />Town of Chapel Hill. Contributions of $50,000 from both County and town would equal the <br />$100,000 requested in the petition. <br />RECOMMENDATION(S): The Manager recommends that the Board consider the petition and <br />if desired, agree to match the Town of Chapel Hill contribution not to exceed $50,000. <br />