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CONSERVATYION EASEMENT FUNDING TO: CABARRUS OUNTY COMMISSIONERS FROM: JEFF GOFORTH VICE-CHARIMAN: CABARRUS SOIL AND WATER CONSERVATION DISTRICT SUBJECT: CONSERVATION EASEMENT FUNDING DATE: DECEMBER 19,2016 Cabarrus County Commissioners, The Cabarrus Soil and Water Conservation District is writing to ask for an expenditure of$36,887.50 from a county fund that has been dedicated for land use protection. This fund derives revenue from the collection of owed taxes when land leaves present use valuation status. This most commonly occurs when farmland leaves agricultural production with the intention of being developed into residential housing. This specific request is to enable the closure of a conservation easement that has been in the works since 2013. This conservation easement will protect 172.63 acres of land located in Cabarrus County from future development, while allowing agriculture production to continue indefinitely. The original terms of this conservation easement consisted of a combination of funding from;Federal (Agricultural Land Easement), State (Agricultural Development Farmland Preservation),land owner contribution and staff contribution. The original estimated land value was $912,450.00. This amount would have required no funds being expended from the county. However,the final appraisal came in at$1,060,000.00. Federal contributions have been approved for$530,000.00,an increase of$73,775.00 from the original $456,225.00. There is a federal requirement of a 25% match by an entity other than the land owner. Cabarrus Soil and Water Conservation District secured a grant from the NC ADFP fund in the amount of$228,112.00. This amount would have covered 25% of the original estimated value of$912,450.00. The revised appraisal amount of $1,060,000.00 has caused a shortage of$36,887.50. To comply with the federally required 25%match we are asking for a distribution of$36,887.50 in County funds to add to the already approved State (ADFP) funds of$228,112.00. This combined with the Federal funding (ALE) of$530,000.00 will help protect open space in Cabarrus county for perpetuity. Without the County matching funds the States obligation will expire on 12/31/16,which will effectively terminate the entire opportunity. This acquisition of guaranteed open space has advantages for Cabarrus County and our greater area for the short term as well as the long term. Short term gains will be realized by securing land that returns a net profit to the tax base. Many cost of services analysis show agricultural land provides more tax dollars to the community than they consume,while residential use tends to consume more tax dollars than is delivered. One such study conducted in 2008 for a nearby county has been provided for your review. Long term benefits are numerous as agribusiness and agri-science opportunities are becoming more prevalent every day. A letter from Greg Walker from the National Resource Conservation Service (MRCS) has also been included in your packet for review concerning this easement. Thank You Jeff Goforth Vice Chairman Cabarrus Soil and Water District G-4 Page 241