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1 <br />` ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />.Meeting Date:. December 7, 1999 <br />Action Agenda <br />Item No. 8- S <br />SUBJECT: Approval of.Option to Purchase Land -Cheeks Township <br />DEPARTMENT: Environment and Resource PUBLIC HEARING: (Y/N) No <br />Conservation <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Option Agreement with Duke University Dave Stancil, ext 2590 <br />Clean Water Grant Press Release <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 62.7 acres of land in Cheeks <br />Township from Duke University, via a grant in the amount of $143,000 from the Clean Water <br />Management Trust Fund. <br />BACKGROUND: On June 30, the Board agreed to an option to purchase a 62.7-acre tract of <br />land west of Hillsborough from Duke University. The property is located .along US70, adjacent to <br />the Orange-Alamance Water .Systems land and Corporation Lake, which provides water to the <br />6,000 customers of Orange-Alamance. In conjunction with this option, County staff submitted an <br />application for a grant from the Clean Water Management Trust Fund for this property. <br />On November 17, .the .Clean Water Management Trust Fund approved the County's grant <br />request in the amount of $143,000, or 51 % of the $280,000 purchase price. The option <br />agreement with Duke calls for a decision on exercising the option. by January 15, 2000. <br />Uses of the property will be .limited due to .the watershed protection impervious surface <br />requirements. The potential use for rustic nature trails on the property does exist. <br />A budget amendment will be prepared in advance of the property closing which accounts for the <br />grant received .and the County's share of funding. <br />FINANCIAL IMPACT: The purchase. price of this property may be paid in full at the time of <br />closing (which will occur within a reasonable time after January 15), or over three years in an <br />installment approach. Funding sources would. include the $143,000 Clean Water grant; with the <br />County's match coming from any combination of the following sources: the ERC CIP Fund <br />($150,000 available), the School/Park Reserve Fund (interest accumulation only - $140,000), <br />the Parks land acquisition bond ($2.89 million); and the Cheeks-Hillsborough. Payment-in-Lieu <br />Fund ($173,309). <br />