Title
Resolution to Approve Grant Application to the Federal Farm and Ranch Land Protection Program (FRPP) for the Purchase of Development Rights (PDR) on the William C. and Cherie L. Nixon Property in Webster Township, Approve the Purchase Agreement and Appropriate Funds in the Amount of $2,138,087.00 Contingent upon Award of Grant Funds (8 Votes Required)
Memorandum
Attached for your review and action is a resolution to approve the Federal Farm and Ranch Land Protection Program (FRPP) application for the purchase of development rights (PDR) on the William C. and Cherie L. Nixon Property located in Webster Township. The resolution also requests approval of a purchase and sales agreement with the landowner and the appropriation of funds for the purchase in the amount of $2,138,087.00 contingent upon award of grant funds.
Grant Application:
Applications to the Federal program are for funds up to 50% of the appraised fair market value of the development rights to a maximum of $5,000 per acre. Completed applications must be submitted before June 1, 2009. It is anticipated that a request for acceptance of grant funds, if awarded, will be presented to City Council in August, 2009. This resolution requests approval of this grant application.
The Farm and Ranch Lands Protection Program has $2.2 million available this year in grant funds for Michigan.
Purchase Agreement:
The grant application requires a purchase agreement for the purchase of development rights to establish easements on the properties be executed by the landowners and the City and submitted with the application. An appraisal has been completed for the development rights on the property.
The attached resolution also approves the Purchase Agreement for the Sale of Agricultural Land Development Rights for the farm. The Purchase and Sale of the development rights (pending offer) is contingent on the following:
A. Award of grant funds from FRPP;
B. Approval of the appraisal by FRPP and the City for...
Click here for full text