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The Conservation Easement Fund, created to acquire conservation <br />easements, is nearly exhausted due to the success of the farmland preservation <br />efforts of the last 8 years.. Of the $3.3 million made available by the Board for this <br />purpose, $437,000 remains. During this time, Lands Legacy has acquired <br />easements on 1,440 acres of farmland and natural areas. Of the 17 easements <br />acquired (two donations), 13 are easements on working farms that were <br />accomplished with substantial Federal and State grants. Most of the farmland <br />preservation easements have been accomplished with dollar-for-dollar grant <br />matching funds. <br />The Lands Legacy Opportunities Fund is also tapped from time to time, as <br />special opportunities arise, for important acquisitions. The Opportunities Fund <br />has funded lands for nature preserves, conserving an arboretum, natural area <br />easements, and some stewardship, with $900,000 remaining in that source. <br />The School/Park Reserve Funds are gone, used at Twin Creeks and other <br />locations in the early part of the decade -with the last $391,000 reallocated to <br />the Efland sewer project in 2005. <br />Subdivision Payment-in-Lieu Funds continue to ebb and flow as funds are <br />used for land or facilities and new subdivisions replenish the resources. Initially, <br />funds were used largely for parkland acquisition. In recent years appropriations <br />have been almost exclusively for park facility development due to the dramatic <br />rise in construction costs and funding shortfalls for park projects. <br />Lands Legacy Funding Sources -Oct ober 1, 2008 <br /> .. - 0 e: <br />Lands Le ac Fund (2001 Bond) $262,813 $2,012,813) <br />Opportunities Fund (PAYG 2000-07 $900,765 <br />Conservation Easements Fund $437,897 <br />(alternative financing from 2002 <br />School/Park Reserve Fund $0 <br />Subdivision Payment-in-Lieu Funds Northern District - $14,523 <br />(may be used for park or open space land Cheeks/Hillsborough - $170,051 <br />acquisition or facility construction -within the Bingham - $145,539 <br />designated district) Chapel Hill Twp - $70,454 <br /> $400,567 total <br /> (as of 7/1/08. Must be spent by <br /> district <br />Summary <br />• Sufficient funding appears to exist for the final district park site and nature <br />preserve consolidation and expansion for the next two years. <br />• Funds for agricultural conservation easements will likely be exhausted by 2009. <br />• The Lands Legacy Program may be out of funds by 2011. <br />• Discussion needed on the future of co-location /multiple uses <br />• Grants and partnerships more important that ever <br />