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JUL 1992 BOOK, Besides those activities referenced above, Resolution No. 92-58 charges LAAC with the responsibility of developing funding mechanisms for the acquisition of land. The resolution further states that the committee should determine a date and amount for any bond referendum that the committee might propose. During the past several months, LAAC and county,staff have spent considerable time addressing the issue of a proposed bond referendum. Besides date and amount, the committee has also considered the proposed millage rate and duration associated with any proposed bond referendum. Foremost among the factors considered by LAAC in determining the date, amount, duration, and millage rate for a proposed bond referendum were two. These were: need for funds and approvability of a referendum. • NEED LAAC used several indicators to determine how much money should be generated by a bond referendum. With general agreement that no referendum would produce sufficient funds to acquire all environmentally significant properties that warrant protection, the committee attempted to determine an appropriate amount. In making its decision, the committee considered the estimated value of those sites which it has presently targeted for acquisition. Starting with approximately thirty properties; LMC has narrowed the initial list to ten, assigned each of the ten properties to one%of three groups, and then prioritized the groups from A to C. Combined, the estimated value of the ten tracts - totals almost $25 million. While +$25 million is one estimate of need, another perspective focusses on minimum need. According to the county's comprehensive plan, the county must acquire at least 750 acres of uplands by the year 2010. With + 5,000 acres represented by the ten properties on LAAC's acquisition list, the upland requirement could be met with acquisition of ..a limited number of properties for substantially - less than $25 million. However, besides general uplands, other types of ecological communities also warrant protection through acquisition. These include wetlands, upland/wetland mosaics, and areas supporting endangered/threatened species. Recent efforts by the state and regional agencies indicate that protection mandates for these communities may increase in the future. Complicating the need issue are several factors. First, it is anticipated that available funds will be leveraged; that is, used as matching monies for joint local and state/federal purchases. Second, acquisition could involve less than fee simple purchase, thereby reducing cost. Finally, the land acquisition program is designed to be on-going, with additional properties evaluated and the acquisition list revised and reprioritized each year. • APPROVABILITY The second major consideration of the committee was the probability of passage of any proposed bond referendum. While various opinions were considered by the committee regarding the prospect of passage at various amounts, rates, or durations, little supporting evidence was provided. rrl M M M