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Draft 10/8/99 <br />12% of the cost of the property purchase.4 As time goes by, the <br />County may wish to establish a fund that addresses stewardship <br />needs for properties acquired - or reflect this need in other funding <br />sources that are developed for acquisition. <br />The County's cost for stewardship-will likely be considerably lower <br />with the existence, of a Land Resource Conservation Manager on <br />staff -negating the substantial personnel cost of stewardship. <br />However, some stewardship funding will be needed for <br />maintenance of sites over he years. Many organizations involved in <br />resource preservation .have set up a stewardship endowment fund <br />to address the ongoing maintenance and. monitoring needs: This <br />could be amore-substantial issue in the long-term, as the County <br />property holdings increase and -.long-term .maintenance needs <br />I~kewise increase:. <br />F. Grants <br />A major portion of the funding stream .for land .acquisitions will <br />likely come from .grants by other entities. There are a number of <br />existing grants that are available for resource preservation <br />purposes, and current legislation at both the state and federal level <br />could greatly enhance the availability of funding to support <br />acquisition of important land resources.. <br />The following is a list of the primary grant sources that exist at this <br />time, followed by a brief synopsis of the program and purpose: <br />1. C/ean Water Management Trust Fund <br />The Clean Water Management Trust Fund is -one. of the largest <br />grant funding sources in North Carolina. With $30 million in annual <br />appropriations, this -fund is designed specifically to address <br />acquisitions that protect and enhance water quality, acquire and <br />preserve riparian buffers or greenways along streams in water <br />supply watersheds,. repair failing waste treatment systems (in <br />certain cases), and otherwise protect unpolluted waters or restore <br />degraded waters. <br />Orange County has applied to the Trust Fund. for a grant to help <br />protect a portion of Duke Forest adjacent to the Corporation Lake <br />water supply. The Town. of Chapel Hill also received funds in 1998 <br />to preserve an area in the New Hope Creek corridor. <br />34 <br />