Attachment  C

 

Net Acquisition Costs for ACE Easements from First Six Rounds

 

 

 

Applicant Pool          Budget           Easement Value                ACE Payment         Closing Costs              Net Costs 

FY 2000-01             $ 1,000,000             $ 1,430,000                        $ 1,136,200                 $  14,975                 $ 1,151,175            

FY 2001-02                1,000,000                   730,000                              693,700                     20,170                       713,870                
FY 2002-03                1,000,000                   717,000                              695,700                     15,798                       711,498

FY 2003-04                   872,500                   611,000                               526,000                    23,194                       549,194

FY 2004-05                1,000,000              2,354,000                         1,866,620                   27,272                  1,893,892

FY 2005-06                1,000,000              1,352,000                            973,760                   18,710                     992,470                

Totals                     $ 5,872,500          $ 7,194,000                     $   5,891,980              $ 120,119             $ 6,012,099           

                               

 

 

Notes:

 

Italics are estimates.  Since we have not closed on any properties from either the FY 2004-05 or FY 2005-06 classes, we cannot predict how many applicants will actually sell easements to the County.

 
In FY 2000-01, the Virginia Outdoors Foundation put $250,000 towards the purchase of the Powell easement.  The balance of savings ($43,800) was the result paying an “adjusted” value instead of the full “appraised” value (because the landowners income exceeded the $50,000 minimum). A total of 1,045.497 acres were placed under easement for this round.
 
In FY 2001-02, all savings ($36,300) were the result of paying an “adjusted” value instead of the full “appraised” value (because the landowners income exceeded the $50,000 minimum).  A total of 1,156.750 acres were placed under easement for this round.
 
In FY 2002-03, the Piedmont Environmental Council donated $22,500 toward the purchase of easements in the Southwest Mountains while the balance of savings ($21,300) was the result of paying an “adjusted” value instead of the full “appraised” value (because the landowners income exceeded the $50,000 minimum).  A total of 910.700 acres were placed under easement for this round.
 
In FY 2003-04, the Virginia Land Conservation Fund provided a grant of $85,433 towards the purchase of the Page easement.  Since the only two applicants from the class received 100% of easement value, there was no additional leveraging based on income.  A total of 664.340 acres were placed under easement for this round.
 
In FY 2004-05, the Preservation Trust Fund awarded the County $131,500 towards the purchase of the Davey easement, contingent on purchase of the easement.  Additional savings are the result of paying an “adjusted” value instead of the full “appraised” value (because the landowners income exceeded the $55,000 minimum).  A total of 1110.29 acres will be placed under easement if all landowners from this applicant class agree to sell an easement to the County. 

 

In FY 2005-06, all savings are the result of paying an “adjusted” value instead of the full “appraised” value (because the landowners income exceeded the $55,000 minimum).  A total of 582.521 acres will be placed under easement if all landowners from this applicant class agree to sell an easement to the County.

 

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