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Title:
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Recommended FY15 ACE Easement Purchases
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AGENDA DATE: 10/7/2015
TITLE:
Title
Recommended FY15 ACE Easement Purchases
BODY
SUBJECT/PROPOSAL/REQUEST: ACE Committee Recommendations of FY15 ACE Easements for Purchase
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Foley, Walker, Davis, Herrick, Cilimberg and Goodall
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: On April 1, 2015, the Board approved the Acquisition of Conservation Easement (ACE) Committee's recommendation to have the three highest-ranked properties from the FY 2015 applicant pool appraised. Easements on the Sweeney, Clark, and Dollard properties were appraised (see Attachment A). Based on estimated easement values for these properties, the ACE Committee believed that the ACE Program fund balance would be sufficient to purchase some or all of the easements. Even if it were not, the Committee believed it was prudent to obtain appraisals on lower ranked properties in the event that higher ranked application(s) were withdrawn.
The Board of Supervisors determines which easements are to be purchased in the ACE Program. County Code ? A.1-111(A) provides in part: "From the list of applications received under section A.1-110(D), the board of supervisors shall designate the initial pool of parcels identified for conservation easements to be purchased. The size of the pool shall be based upon the funds available for easement purchases in the current fiscal year and the purchase price of each conservation easement in the pool established under section A.1-111(B)." Because it is possible that not every invited applicant will submit an offer to sell, if one or more applicants were to drop out of the pool, other applicants would be substituted until the eligible applicants or available funding were exhausted.
After three new easements were acquired last spring, the County has now acquired easements on 44 properties and protected 8,508 acres and other open space resources. The County's investment has been at a 26% discount below full easement value because of grants, donations, and adjusted values from the income grid.
STRATEGIC PLAN:
Natural Resources: Thoughtfully protect and manage Albemarle County's ecosystems and natural resources in both the rural and development areas to safeguard the quality of life of current and future generations.
Rural Areas: Preserve the character of rural life with thriving farms and forests, traditional crossroad communities, and protected scenic areas, historic sites, and biodiversity.
Scenic Resources: Preserve the County's scenic resources as being essential to the County's character, economic vitality and quality of life.
DISCUSSION: Currently, the County has $730,153.61 in multi-year rollover funds from FY2015, plus another $168,475.31 in revenue received in late June 2015 from the Office of Farmland Preservation, as partial reimbursement for the earlier purchase of the Stargell and Woodson easements. In addition, $242,948.47 in unused grant funds from the Office of Farmland Preservation (OFP) must be used within two years of the award date. The OFP holds these funds in a restricted account until the County submits a Reimbursement Claim Form for 50% of the total acquisition costs. Because staff expects to expend the remaining balance of these funds with the acquisition of the Sweeney easement, the total funds available for easement acquisitions in this class is $1,141,577.30. Acquisition of the higher ranked Sweeney and Clark easements (at a total of $985,000) would leave a balance of $156,577 to acquire the Dollard easement, which is only 35% of that easement's full value. Though staff is uncertain whether the owner of the Dollard property would accept an offer for much less than the full easement value, the County currently has no additional ACE funds available if the Sweeney and Clark property owners offer to sell those higher-ranked easements.
BUDGET IMPACT: These conservation easements would be purchased from existing funds in the CIP-Planning-Conservation budget (line-item 9010-81010-580409) and grants from the Office of Farmland Preservation (OFP).
RECOMMENDATION:
Recommendation
The ACE Committee and staff recommend that the Board:
1) Authorize staff to invite the owners of the Sweeney and Clark and Dollard properties to make written offers to sell conservation easements to the County for no more than
* $713,000 for the Sweeney easement,
* $285,000 for the Clark easement, and
* Any available ACE funds remaining thereafter (up to $488,000) for the Dollard easement;
2) Accept offers from any of these owners to sell conservation easements for no more than the above amounts; and
3) Authorize the County Executive to sign on behalf of the County the Deeds of Easement and related forms for any or all of these three easements once such documents are approved by the County Attorney.
ATTACHMENTS:
A - ACE Scoring of FY15 ACE Applicants
B - Appraisal and Easement Costs of FY15 ACE Applicants
C - Summary of ACE Conservation Efforts