Table 1 - Net Acquisition Costs for ACE Easements from First Seven Rounds

Applicant Pool                   Easement Value        ACE Payment               ACE Cost/Acre      Amount Leveraged

Round 1 (FY 2000-01)       $ 1,430,000.00           $ 1,136,200.00               $ 1,102/acre        $   293,800.00

Round 2 (FY 2001-02)             730,000.00                693,700.00                    617/acre              36,300.00

Round 3 (FY 2002-03)             717,000.00                673,200.00                    756/acre              43,800.00

Round 4 (FY 2003-04)             611,000.00                525,567.00                    848/acre              85,433.00

Round 5 (FY 2004-05)          2,349,000.00              1,860,629.00                  1,701/acre             488,371.00

Round 6 (FY 2005-06)          1,103,500.00                 948,310.00                  2,089/acre            155,190.00

Round 7 (FY 2006-07)          2,559,640.00              1,480,584.00                  2,687/acre          1,079,056.00 (not closed)

Totals                               $ 9,500,140.00           $ 7,318,190.00               $ 1,266/acre      $ 2,181,950.00 (23%)

Notes:

In Round 1, 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 Round 2, 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 Round 3, 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 Round 4, 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 Round 5, all savings were 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 was placed under easement for this round. 

In Round 6, all savings were 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 461.521 acres was placed under easement for this round.  One easement (Hook) was transferred from ACE to PRFA because it became a donated easement.

In Round 7, the Virginia Outdoors Foundation contributed $565,000 (or 50%)  towards the purchase of the Strawberry Hill Farm easement.  In addition, the Office of farmland Preservation is contributing at least $400,000 toward the purchase of the Clayton easement.  Another  $114,056 was saved because the Clayton easement exceeded the ACE budget by this amount.  A total of 558.420 acres will be placed under easement for this round. 

Table 2 - Summary of Applications - First Seven Years of ACE Program

Year                 Applicants         Enrolled (Acres)            Closed (Acres)              DR’s Eliminated

Round 1            11                       4 (1,045 ac)                   4  (1,045 ac)                  88 DR’s (purchased)

Round 2            8                       5 (1,157 ac)                  5  (1,157 ac)                  24 DR’s (purchased)

Round 3            8                       5 (   911 ac)                  5  (   911 ac)                 62 DR’s (purchased)

Round 4            8                       2 (   647 ac)                  2 (   647 ac)                  34 DR’s (purchased)

Round 5            10                       6 (1,110 ac)                   6 (1,110 ac)                   66 DR’s (purchased)

Round 6            7                       5 (   583 ac)                  4 (   462 ac)                  34 DR’s (purchased)

Round 7            9                       7 (   609 ac)                  2 (   558 ac)                  26 DR’s (not yet purchased)

Total                 61                     34 (6,062 ac)                  28  (5,890 ac)               334 DR’s         

Number of easements acquired:             26 easements (28 easements when Round 7 easements purchased)

Acres protected:                                    5,332 acres (5,890 acres when Round 7 easements purchased)

Development lots eliminated:                  308 DR’s eliminated (334 eliminated when Round 7 easements purchased)

ACE appropriations:                              $ 7,346,243.00 (including Round 7)

Total easement value:                            $ 9,500,140.00   = $1,613/acre (including Round 7 easements)

Grants, donations & adjusted values:       $ 2,181,950.00  

Acquisition cost (before closing costs):    $ 7,318,190.00   (including Round 7 easements)

Acquisition cost (after closing costs):      $ 7,454,909.00   = $1,266/acre (including Round 7 easements)

Summary of Six Rounds of ACE Applicants (FY 2000-06):

·          52 applicants

·          acquired easements on 26 properties  

·          16/26 properties have “tourism” value

·          have protected 5,332 acres

·          have eliminated 308 development lots

·        have protected protect 2,429 acres of “prime” farm and forestland have protected 16,596 feet along a scenic highway/major entrance corridor

·        have protected 286 acres of mountaintop

·        46,565 feet of streamside protected by riparian forest buffers

·        8/26 properties in the Southwest Mountains Rural Historic District

·        13/26 properties adjoin land protected by easement

·        9/26 lie in the watershed of a drinking supply reservoir

·        18/26 are working family farms

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