Title
Resolution to Approve the Purchase of Development Rights on the Donald H. Drake Trust Property in Lodi Township and Appropriate Funds in the Amount of $263,247.00 (8 Votes Required)
Memorandum
Attached for your review and action is a Resolution to approve the purchase of the approximately 72 acre Property Owned by the Donald H. Drake Trust, located in Lodi Township and Appropriate Funds, Not to Exceed $263,247.00, from the Open Space and Parkland Preservation Millage Proceeds.
On January 4, 2016 (R-16-005), City Council approved a grant application to the NRCS - Agriculture Conservation Easement Program (ACEP) for the Purchase of Development Rights (PDR) on the Drake Farm in Lodi Township. Subsequently, on September 6, 2016, City Council approved the acceptance of grant funds in the amount of $141,120.00 towards the purchase of the development rights on the tract. (R-16-346)
Drake Farm, Lodi Township
The farm is approximately 78 acres and is located along Waters Road in Lodi Township. The property is considered large enough to sustain agricultural production and is in a location that will encourage additional farmland preservation and agricultural preservation activities. The property is in active agriculture. A portion of the farm on the south side of Waters Road was protected by the City of Ann Arbor's Greenbelt Program in January 2013. The protection of this property is a priority for the Greenbelt due to the size and quality of the farmland, proximity to other protected properties, and possibility to leverage funds from federal and other local sources of funding. The property also meets the priorities for both the Greenbelt and ACEP Programs.
Purchase Agreement:
An appraisal was completed for the development rights on the property in January 2017.
The attached resolution approves the Purchase Agreement for the Sale of Agricultural Land Development Rights on the farm. The Purchase and Sale of the development rights is contingent on the...
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