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800 u,'� 459 At the Board meeting, it was explained that FWS had to obligate the $750,000 in emergency funds by February 28, 1995, or risk having the funds rescinded by Congress. Moreover, it was indicated that it was necessary for the County to commit to matching funds by February 28th to secure the emergency federal funds. The Board tabled its consideration of .the matching fund commitment request until February 28th, to allow for Land Acquisition Advisory Committee (LAAC) emergency review. LAAC has since reviewed the funding request, summarized as follows. LAAC Review/Recommendation LAAC's February 22, 1995 meeting discussion of the Kennedy Tract acquisition funding was attended by FWS staff and Ken Kennedy, representing the landowners. Contrary to earlier indications, it was brought out during the LAAC discussion that the FWS may proceed to commit its $750,000 in emergency funds to acquire a portion of the Kennedy Tract, independent of whether or not the County commits to a match by February 28th. More specifically, when the FWS originally applied for emergency funds to acquire the western portion of the Kennedy Tract, the landowners indicated that they would not be willing to sell the western portion.of their tract unless at least $1.5 million worth of land was publicly acquired. Therefore, under this scenario, a like match from the County was necessary to obligate. the federal funding by February 28th. However, as discussed at the LAAC meeting, the landowners are now apparently willing to sell to FWS $750,000 worth of property, with the acquired land -area expanded if the County obligates match funding within the coming months. Based on the discussion, LAAC concluded that the County's commitment to obligate matching funds no longer qualified for "emergency acquisition" status, and that the Committee may proceed in evaluating the Kennedy Tract under normal review time frames, as part of an overall PINWR buffer project submitted for LAAC review. Notwithstanding the non -emergency status determination, LAAC voted to recommended that the Board commit to $100,000 in matching funds at this time, for purchase of approximately +37 acres of wetlands on the Kennedy Tract. The $100,000 amount was determined based on a rough estimate of the cost of the wetlands. The Committee voted to recommend the $100,000 commitment with an understanding that more money could be obligated to the project in the course of normal review of this and other projects nominated for acquisition consideration. RECOMMENDATION Staff recommends that the Board authorize the Board Chairman to sign the attached letter to the FWS, committing $100,000 of county land acquisition bond funds for purchase of approximately +37 acres of wetlands on the Kennedy Tract, as part of a joint FWS/County acquisition of the western portion of the Kennedy property. FEBRUARY 28, 1995 38