AG 2016 12 19 - Laserfiche WebLink

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Dear Mr. Steve Morris, Chairman, Cabarrus County Board of Commissioners: I am hopeful that the Cabarrus SWCD and the Cabarrus County Commissioners can see fit to add some additional funds to this effort to close these two parcels for the Porters. We understand that additional State funds are not available. As you all know much has transpired since the acceptance of the execution of this Cooperative Agreement. My point is that significant funds have been reserved, significant funds expended, staff time investment towards closing this easement to date. Much is at stake. It is my understanding that Cabarrus County has farmland protection/preservation as a high priority due to the proximity to development pressures in and around the county. Cabarrus County is in a position to assure that significant federal and state funds are leveraged to continue to work towards farmland protection goals. The federal ALE program initially obligated $456,225, the State ADFP obligated $225,112 towards the Porter easement. The ALE funds may be requested up to 50%of the Approved Fair Market Value of the easement. The $225,112 represented the 25% required to be contributed by the entity(Cabarrus SWCD)and $456,225 represented 50%of the estimated value initially. These values were based on the estimation of$912,450 (value)of the Porter easement. The final approved value is higher than the initial estimated value and the ALE requires that the sponsoring entity contribute no less than 25%of the Approved Fair Market Value. See chart below: Required Appraised Fair Market Value $1,060,000.00 % Easement Purchase price $795,000.00 75% Cabarrus SWCD Entity Cash Contribution $265,000.00 25% $36,887.50 Additional NRCS Cash Contribution $530,000.00 50% $73,775.00 1 NRCS Additional Landowner Donation $265,000.00 25% For the ALE to close this easement, currently the entity contribution is approximately 21% requiring an additional $36,887.50. The current contribution of the ALE program is about 43%of the approved fair market value. The ALE may contribute and additional $73,775.00 if the entity can assure that its contribution meets the 25% mark and I have funds available from my 2017 budget to cover the ALE 50% share. I cannot however contribute additional funds without the entity's 25%. As it stands, if closing could happen, I would need the National Office to approve a waiver for the entity to contribute less than 25%. In order to ask for such a waiver, NRCS must identify significance of the parcel and why an exception is to be made to the Cooperative Agreement terms/ALE terms. As it stands, it is doubtful that this easement can close by December 31, 2016. We also have direction from the ADFP that no funds are available from the State. They have also stated clearly that unless additional funds can be contributed, by some source, the State's funding agreement will not be extended past December 31, 2016. This letter is intended to state the facts as I see them. I sincerely hope we can come together to pool our resources and get this easement to closure. Thanks Greg Walker ASTCP NRCS G-4 Page 240