Title
Resolution to Approve Participation Agreement for Purchase of Development Rights on
Zeeb Farm and Appropriate $165,140.00 from Open Space and Parkland Preservation Bond Proceeds (8 Votes Required)
Memorandum
Attached for your review and action is a resolution to approve a Participation Agreement with Ann Arbor Township for the purchase of development rights on the farm owned by Kenneth A.
Zeeb and Joann
Zeeb, husband and wife, tax parcel ID number I-09-03-100-003, in Ann Arbor Township. The resolution also approves an appropriation of funds for 50% of the remaining purchase price, after grant funds are allocated, not to exceed $165,140, from the Open Space and Parkland Preservation Bond Proceeds.
Kenneth A.
Zeeb and Joann
Zeeb applied to the Ann Arbor Township Land Preservation program in 2008. Ann Arbor Township applied for Federal Farm and Ranch Land Protection Program (FRPP) grant funds in 2009, and the Township was subsequently awarded an FRPP grant in the amount of $307,720.00. Ann Arbor Township has been the lead agency in the negotiations with the landowner. As with any land acquisition deal which the City is involved, a donation was requested from the landowner, however, no donation was received.
Ann Arbor Township is seeking the support from the City of Ann Arbor for 50% of the remaining purchase price. The appraised value of the development rights on the property is $628,000.00. Thus, after the grant funds, the remaining purchase price is $320,280.00 and the City’s contribution toward the purchase price would not exceed $160,140.00. The City’s contribution also includes an additional allocation not to exceed $5,000.00 to cover a portion of the due diligence costs.
The parent parcel is approximately 83.70 acres and is currently in agricultural production. The landowner is excluding approximately 2.12 acres from the easement, which includes the house and farm buildings. The property is considered large enough to sustain agricultural pr...
Click here for full text