Title
Resolution to Authorize a Grant Application to the USDA Agricultural Conservation Easement Program (ACEP) for the Purchase of a Conservation Easement on the Russell Property in Lodi Township
Memorandum
This resolution authorizes a grant application to the USDA Natural Resource Conservation Service (NRCS) Agricultural Conservation Easement Program (ACEP) for the purchase of a conservation easement on the Russell property located in Lodi Township.
Applications to the NRCS-ACEP program are for funds up to 50% of the appraised fair market value of the conservation easement, up to a maximum of $5,000 per acre. The ACEP Program is voluntary and provides matching funds for local governments to acquire conservation easements on farmland. The landowners retain the right to use their property for agriculture. ACEP applications may be submitted year-round, but while the application deadline for FY 2019 ACEP funds has not been announced yet, it may be as early as January 2019. It is anticipated that a request for acceptance of grants, if awarded, will be presented to City Council in September of 2019.
The Greenbelt Advisory Commission recommended submission of the grant application for the Russell Property in Lodi Township at its July 12, 2018 meeting.
This resolution also approves a Pending Offer Agreement for purchase of an agricultural conservation easement on the farm, which is required for the ACEP application. The agreement provides that the purchase is contingent on the following:
a. Establishment of a fair market price for the conservation easement to be determined by an appraisal and approved by the City and the ACEP Program;
b. Conveyance of good and marketable title via conservation easement;
c. Acceptable environmental site assessment of property; and
d. Acceptance of the conservation easement by City Council and ACEP.
An appraisal will be completed for the property and, if awarded grant funds, a complete budget along with a purchase agreement ...
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