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2 <br />Kirbys requires their agreement to the terms of the conservation easement from the County <br />to TLC. That agreement is anticipated. <br />Upon approval by the Board, a closing on the conservation easement is expected to occur on <br />or before December 31, 2008. A copy of the draft conservation easement is attached. <br />The property will continue to be managed through the Lands Legacy program until the <br />County is ready to develop the site for future uses. TLC will monitor the property for <br />conservation easement compliance. Staff has prepared a preliminary concept plan for the <br />site that will be presented to the Board for approval at an upcoming meeting. Amore detailed <br />master plan for the park will be developed as potential park construction approaches, using a <br />collaborative process that includes community input (as has been the practice for previous <br />park projects). There are no existing funds for park development at this time. The <br />recommended 2009-2019 CIP includes $7.4 million in FY 2017-18 and FY 2018-19 for park <br />construction. <br />FINANCIAL IMPACT: TLC will pay most of the transaction costs for the conservation <br />easement, including surveying, title work, and recording fees not paid by the County. The <br />County's share of transaction costs will not exceed $1,000. Existing funds remaining from the <br />property purchase are sufficient to cover those costs. <br />RECOMMENDATIONS: The Manager recommends that the Board adopt the resolution <br />approving the conveyance by Orange County of the conservation easement and authorize <br />the Chair and the Clerk to sign the conservation easement agreement, subject to final review <br />by staff and County Attorney, with a closing and recordation of the document expected to <br />occur on or about December 31, 2008. <br />