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.  A savings of $43,800 resulted from paying an “adjusted” value instead of the full “appraised” value because one or more 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, A savings of $36,300 resulted from paying an “adjusted” value instead of the full “appraised” value because one or more 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 a savings of $21,300 resulted from paying an “adjusted” value instead of the full “appraised” value because one or more 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 this class from whom easements were purchased received 100% of easement value, there was no additional savings.  A total of 664.340 acres were placed under easement for this round.
 
In FY 2004-05, all savings thus far are the result of paying an “adjusted” value instead of the full “appraised” value because one or more 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 and if the County accepts all offers to sell. 

 

In FY 2005-06, all savings thus far are the result of paying an “adjusted” value instead of the full “appraised” value because one or more 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 and if the County accepts all offers to sell.

 

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