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Home My WebLink AboutR24-034 Open Space Funding Associated with Eaton Ranch Upper Division DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 Commissioner chandler-Henry moved adoption of the following resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2024- 034 RESOLUTION APPROVING THE USE OF OPEN SPACE FUNDS FOR TRANSACTION COSTS ASSOCIATED WITH THE CONSERVATION OF THE EATON RANCH UPPER DIVISION LOCATED IN EAGLE COUNTY, COLORADO AND AUTHORIZING ANY OF THE EAGLE COUNTY COMMISSIONERS TO EXECUTE DOCUMENTS ASSOCIATED WITH THE SAME WHEREAS, EATON UPPER DIVISION, LLLP, A COLORADO LIMITED LIABILITY LIMITED PARTNERSHIP AND MICHAEL B. EATON ("The Landowners"), are the owners of a 160-acre property on Squaw Creek Road(Eagle County Assessor Parcel No. 210724300040) (the "Property") located in Eagle County, Colorado, known as the Eaton Ranch Upper Division. The Landowners have offered to grant a conservation easement on the Property, which will be held by the Colorado Cattlemen's Agricultural Land Trust ("CCALT"); and WHEREAS, the Eagle County Open Space Program was created to acquire and protect outstanding natural lands,wildlife habitat, historic ranches and scenic areas; and WHEREAS,the Property possesses characteristics consistent with Eagle County Open Space Selection Criteria including critical wildlife habitat, visual buffers, agricultural heritage and scenic landscapes that are important to conserve for current and future generations of Eagle County; and WHEREAS,Eagle County, CCALT and The Landowners will work together in support of the effort to protect the Property; and WHEREAS,The Landowners will donate the conservation easement to CCALT and The Landowners will continue to own and manage the Property at their expense; and WHEREAS, CCALT has agreed to hold the conservation easement on the Property and will be responsible for long-term monitoring of the Property which will ensure the permanent protection of the Property' s conservation values; and DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 WHEREAS, Eagle County supports the protection of the Property through a conservation easement; and WHEREAS, on May 14, 2024 the Eagle County Open Space Advisory Committee ("OSAC")voted unanimously to recommend that the Board of County Commissioners of Eagle County, Colorado ("Board") fund up to eighty-eight thousand, five hundred and fifty dollars ($88,550.00)towards a portion of the transaction costs incurred by CCALT as set forth on the attached Exhibit A, attached hereto and incorporated herein(the "Transaction Costs"), to permanently protect and conserve the Property through the recordation of a conservation easement, with the understanding that a funding agreement in a form acceptable to the County setting forth the details and requirements for funding the transaction costs be executed by the County and CCALT before execution and recording of the conservation easement(the "Closing"); and WHEREAS, the conservation easement Transaction Costs include, but are not limited to, CCALT project fees, stewardship endowment, legal defense, title research and closing costs, appraisal, mineral report, baseline report, surveys, Colorado tax credit application fee, and CCALT legal and expert fees, as set forth on Exhibit A. The Transaction Costs do not include attorney fees and legal costs incurred by The Landowners in connection with the conservation easement, and The Landowners are solely responsible for such fees and costs; and WHEREAS, in anticipation of The Landowners granting the conservation easement on the Property,the Board has heard the OSAC recommendation and desires to ratify and approve the use of Open Space Funds to fund a portion of the Transaction Costs incurred by CCALT associated with the recording of a conservation easement on the Property. NOW, THEREFORE,BE IT RESOLVED by the Board of County Commissioners of the County of Eagle, State of Colorado: THAT,the Board hereby ratifies and authorizes the use of Open Space Funds in the amount of eighty-eight thousand, five hundred and fifty dollars ($88,550)to fund a portion of the Transaction Costs incurred by CCALT associated with the recording of a conservation easement on the Property. THAT, subject to satisfaction of any due diligence associated with the conservation easement on the Property; execution of a funding agreement between the County and CCALT no later than December 31, 2024, recordation of the conservation easement, and receipt by County of an invoice and supporting detail in accordance with Exhibit A, the County shall disburse to CCALT the funds authorized by this Resolution. 2 DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 THAT,the Board authorizes any of the Eagle County Commissioners to execute on its behalf any and all necessary documents, instruments, papers or other forms necessary to prepare and record a conservation easement against the Property. THAT, all documents associated with the conservation of the Property, as well as transaction costs to be paid by County, are subject to review and approval by the Eagle County Attorney' s Office. THAT,the Board finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. [Remainder of page left intentionally blank] • DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 MOVED AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held on the 11th day of June , 2024. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: Matt Scherr, Chair DocuSigned by: /444.4,v CA4AC1201-0AA47A Jeanne McQueeney Commissioner DocuSigned by: 641 DocuSigned by: 60A081FFE864409.. Kathy Chandler-Henry Commissioner Attest: DocuSigned by: By: rtlittAA 0' F0D62F2"6606440... Regina O'Brien, Clerk to the Board Commissioner McQueeneyseconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Scherr Absent Commissioner McQueeney Aye Commissioner Chandler-Henry Aye This resolution passed by 2/0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado 4 DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 EXHIBIT A Conservation Easement Transaction Costs 5 DocuSign Envelope ID:2224D68D-FA7C-4993-952B-20926C4028C8 Exhibit A Transaction Costs Transaction Costs-estimated Total Costs Request to Eagle County Stewardship Endowment $28,500 $28,500 CCALT Legal Defense Fund $7,500 $7,500 Title Research and Closing Costs $6,000 $6,000 Appraisal $12,500 $2,500 Mineral Report $0 $0 Baseline Report $7,000 $7,000 Water Report $750 $750 Environmental Report $0 $0 Surveys $0 $0 CCALT Lifetime Membership $5,000 $5,000 CCALT Project legal fees $5,000 $5,000 CCALT Project Coordination Fee $15,000 $15,000 Colorado Tax Credit Application Fee $11,300 $11,300 Total $98,550 $88,550 Total funding request for transaction costs NTE $88,550.00