Title
Resolution Approving a Contribution in the Amount of $200,000 For a Purchase of a Property in Summerfield (“Bandera Farms”) in Partnership with the Piedmont Land Conservancy
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Water Resources
Council District: Outside of the City
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Michael Borchers, 373-2494
Contact 2 and Phone: Kristine Williams, 373-2556
PURPOSE:
City Council approval is requested to authorize a contribution in the amount of $200,000 toward the purchase of a 113-acre watershed property in Summerfield in a partnership with Guilford County, Town of Summerfield, Town of Oak Ridge and Piedmont Land Conservancy.
BACKGROUND:
The subject property (“Bandera Farms”) is located on Reedy Fork Creek in Summerfield and adjacent to watershed property already owned by the City of Greensboro. Piedmont Land Conservancy has negotiated a contract to purchase the property by November 30, 2020 for $575,000. The purchase price was based upon a fair market appraisal and is $210,000 below the listing price. Comprised of wetlands, floodplains and rolling topography, the property provides additional source water and water quality protection for Greensboro’s drinking water supply, flood control benefit in a rapidly growing area of the County. The property also provides a critical link along the planned Piedmont Greenway corridor, a 19-mile greenway to connect Greensboro to Winston-Salem through Summerfield, Oak Ridge, Triad Park and Kernersville. In addition, preservation of this property provides an outstanding opportunity to create a low impact trails preserve for the benefit of local communities and visitors.
The property will be purchased by Piedmont Land Conservancy and ultimately transferred to the Town of Summerfield for long-term management and maintenance, subject to a conservation easement held by Piedmont Land Conservancy. The property will be acquired through a public/private partnership with purchase funds contributed by the City of Greensboro ($200,000), Guilford County ($200,000), the Towns of Summerfield ($100,000) and Oak Ridge ($50,000). Partnership funds were determined equitable by jurisdiction and defined at the stakeholder group comprised of representatives from each municipality. The City of Greensboro will have no development or management responsibilities for the property, but will retain the right to review all trail plans for water quality impacts.
BUDGET IMPACT:
Funding in the amount of $200,000 is budgeted in the Water Resources Stormwater Capital Improvements Fund Account #506-7019-06.6011, A20088. A budget adjustment is needed to use this account.
RECOMMENDATION / ACTION REQUESTED:
It is requested that City Council authorize $200,000 toward the purchase of the 113-acre Bandera Farms property. The Water Resources Department recommends the approval of this contribution and the associated budget adjustment.