Attachment  C

Net Acquisition Costs for ACE Easements from First Three 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 means an estimated value.  Since we have not closed on any properties from either the FY 2004-05 or FY 2005-06 class, we cannot predict how many applicants will actually sell an easement 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 of 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, 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 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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