Title
Resolution to Approve Budget Adjustment for USDA-NRCS ACEP Reimbursement on the Purchase of Development Rights on the Donald H. Drake Trust Property in Lodi Township, and Appropriate Additional Funds, Not to Exceed $141,120.00, from the Open Space and Parkland Preservation Millage (8 Votes Required)
Memorandum
This resolution approves a budget adjustment to account for federal ACEP Grant Funds to reimburse part of the purchase price the City paid for a conservation easement on the Donald H. Drake Trust Property in Lodi Township. This resolution is necessary to allow the City to secure reimbursement of the funds from ACEP.
Background
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 Donald H. Drake Trust Farm in Lodi Township. Subsequently, on September 6, 2016, City Council approved the acceptance of ACEP grant funds in the amount of $141,120.00 towards the purchase of the development rights on the tract (R-16-346).
On May 1, 2017 City Council approved the purchase of the development rights on the Donald H. Drake Trust property (R-17-148) and appropriated up to $263,247.00, from the Open Space and Parkland Preservation Millage Proceeds. Subsequently, Washtenaw County Parks and Recreation approved the contribution of funds in the amount of $88,250.00, or 25% of the Fair Market Value, towards the purchase of the development rights on the tract.
On September 5, 2017 City Council approved a participation agreement with Washtenaw County Parks and Recreation for the Purchase of the Development Rights on the Donald H. Drake Trust Property in Lodi Township, and Appropriate Funds, Not to Exceed $174,997.00, from the Open Space and Parkland Preservation Millage Proceeds (R-17-339).
The project budget presented in that R-17-339 did not account for the fact that the ACEP grant of $141,120.00 would be reimbursed by USDA-NRCS...
Click here for full text