Agenda - 10-14-2008 - late 2 - Laserfiche WebLink

Browse Search

October 14, 2008 Background Since its inception in April 2000, the Lands Legacy Program has utilized a number of funding sources to acquire critical lands of natural or cultural resource significance, including over $4.0 million in Federal and state grants, donations, and contributions from partner agencies. Some properties have also been acquired by donation or bargain sale. In terms of County dollars, funding has come from five sources: • The Lands Legacy Fund (funds from the 2001 Parks and Open Space bond designated for Lands Legacy) • The Lands Legacy Opportunities Fund (pay-as-you-go appropriations on an annual basis made in certain years). • The Conservation Easement Fund (alternative financing approved in 2002 by the, Board of Commissioners for purchase of conservation easements) ® The School/Park Reserve (originally, one-cent of the tax levy for land acquisition that met park and school needs). Funding for this reserve was reduced to 1/3 cent in 2001, and discontinued in 2003 (remaining funds were appropriated for other uses in 2005). • Subdivision Payment-in-Lieu Funds (payments made by new subdivisions to help address County parks and open space land and facility development. These funds are collected and expended by four identified District Park districts (Northern, Cheeks/Hillsborough, Chapel Hill Township, Bingham). Funding Status The exact amount of funds can be found in the table on page 2 of this appendix. The following paragraphs summarize each fund. The availability of remaining funds varies considerably by source. The Lands Legacy Fund (2001 bond) retains $2.01 million of the original $7.0 million appropriated (although the final bond sale for $1.75 million of this amount has not yet occurred and is planned for this fall). Primary objectives for this fund were park sites and nature preserves. All but one planned District Park site has been acquired, and the vast majority of the funding to date has gone toward erasing the 1,265-acre parkland deficit that was cited in several plans in the late 1990's. Although only a few tracts have been purchased for nature preserves to date, this is the expected area of emphasis for the next few years for this fund - building on the future nature preserves (consolidating Natural Heritage sites with low-impact recreation access opportunities).