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9.A.5. CONSIDERATION OF THE PURCHASE OF AGRICULTURAL <br />CONSERVATION EASEMENTS ON SEXTON RANCH UNDER THE COUNTY <br />ENVIRONMENTAL LANDS PROGRAM (CONTINUED FROM THE JANUARY <br />16, 2007 BOARD MEETING) (ADMINISTATIVE) <br />PROOF OF PUBLICATION OF ADVERTISEMENT FOR HEARING IS ON FILE IN THE <br />OFFICE OF THE CLERK TO THE BOARD <br />Clerk's Note: This Item was heard at 1: 30 p.m. following Item 14.B.4. and is placed <br />here for continuity. <br />Roland M. DeBlois, Chief of Environmental Planning, reminded the Board that this <br />item was tabled at the January 16, 2007 meeting because the new appraisals had not been received <br />prior to that meeting. He provided a PowerPoint presentation (copy on file) depicting the location <br />and acreage of the Sexton Ranch, and summarized the agricultural conservation easements and the <br />easement restrictions that applied. Chief DeBlois reviewed the appraisals and reported that the <br />contract had not changed, the purchase price remained at $12 million ($25,970.00 per acre). Chief <br />DeBlois clarified the new information since the January 16, 2007 meeting: (1) Mr. Sexton had <br />applied for official historic designation of the structures; (2) he gave attorney clarification that "in <br />perpetuity" means "forever"; (3) "fee -simple" purchase and "lease back" would jeopardize the <br />tax-exempt status of bonds; and (4) the County could not transfer development rights acquired <br />with bond proceeds. He noted the minuses and pluses when comparing easement purchase versus <br />fee simple purchase. Chief DeBlois acknowledged that the Land Acquisition Advisory Committee <br />(LAAC) recommended, by a 10-4 vote, to purchase the agricultural conservation easement at the <br />$12 million negotiated price. He concluded by recommending approval of the option agreement, <br />authorize staff to amend the agreement to allow a tax-free exchange, authorize staff to amend <br />language in the easement to account for the historic designation of structures, and to authorize staff <br />to proceed with due diligence activities and close the purchase. <br />February 20, 2007 22 <br />