Conservation Easements - a basic overview. Conservation Easement Definition Voluntary legal...
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Transcript of Conservation Easements - a basic overview. Conservation Easement Definition Voluntary legal...
Conservation Easements- a basic overview
Conservation EasementDefinition
Voluntary legal agreement between a landowner and conservation
organization (easement holder) that permanently limits certain uses of the land in order to protect conservation
values.
Conservation Easements and the Bundle of Rights of Land
Ownership
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Before CE After CE
Source: “Land Administration Lecture 3Land Registration, Lisa Ting, UNMELB
Current Use Assessment
ProgramVoluntary
Reduced tax rate
10 acre minimum
Not permanent!
Voluntary
Perpetual
Public access optional
Involves a qualified “holder” of the conservation easement (land trust, municipality, state or federal agency).
Conservation Easement Characteristics
Easement Holder Responsibilities
Baseline Documentation
Annual Easement Monitoring
Enforcement
Record Keeping
New Landowner Contact
Volunteer monitors on the Cochecho River
Land remains privatelyowned
Restricts subdivision, residential or commercial building, and mining
Can be financial benefits to landowners
Flexible – customized to each parcel
Conservation Easement Characteristics
Ridge Road
North
Unrestricted(Existing buildings) Unrestricted
Area restricted by the Conservation Easement Traditional Approach
CE’s Do Not Have To Include The Entire Parcel
Ridge Road
North
Area A
Area restricted by theConservation Easement Reserved Right
to subdivide one ortwo lots in the futurewithin Area A
Unrestricted(Existing buildings)
CE’s Do Not Have To Include The Entire Parcel
Qualifying Conservation Purposes
Meets at least one of these requirements:
Significant natural habitat and natural resource protection
Open space purely for scenic enjoyment from public road way or waterway
Public recreation or education
Historically important land or a certified historic structure.
Conservation Easement Project Costs can include:
• Survey • Appraisal • Legal Fees • Title Search• Land Trust Agent Fees • Stewardship Fund Contribution
Benefits of Conservation Easements
• Property remains in private ownership
• Can be used on publicly-owned lands
• Encourage farm and forest management
• Executory interest (backup) easement holder arrangements add enforcement strength
• Development rights may be gifted or sold at full value or at bargain price
• Donating (gifting) CE value may provide significant income tax benefits
Fishing on the Cochecho River with our friends from Great Bay Trout Unlimited.
CE’s protect trees, farms, rivers…land that is valuable for:CE’s protect trees, farms, rivers…land that is valuable for:• wildlife habitat preservationwildlife habitat preservation• agriculture to provide local foodsagriculture to provide local foods• protecting our drinking water suppliesprotecting our drinking water supplies• outdoor recreation such as hiking, fishing, & kayakingoutdoor recreation such as hiking, fishing, & kayaking• ecological plant and animal diversityecological plant and animal diversity• the tourism and forest products industry andthe tourism and forest products industry and• preserving the rural character of our community preserving the rural character of our community
for both current and future generations.for both current and future generations.
In summaryIn summary……
• Conservation easements are voluntary• They are perpetual• FMV of the dev. rights can be donated or sold • Land often remains in private ownership• Local, state and federal regulations still apply• The benefits to our community…immeasurable.
We will now switch to a brief overview of the Dr. Alex Smith Project.
Anna Boudreau, Executive Director Strafford Rivers Conservancy PO Box 623, Dover, NH 03821 (603) 516-0772
Proposed Smith Conservation Easement78 acres - Rochester, NHStrafford Rivers Conservancy
Estimated Project BudgetExpenses
Conservation Easement FMV $328,000
Transaction Costs $14,420
Appraisal $3,000
Stewardship Contribution $11,800
Total $357,220
Income
Landowner expenses paid $3,000
Easement donation value by landowners $28,000
Costs paid by the SRC $600
Total $12,600
Remaining costs $325,620
CONSERVATION EASEMENT ValueAppraised Fair Market Value = $328,000Value of “Donation” = - 28,000 Negotiated Purchase Price = $300,000
Being mindful of the current demands on the city’s conservation fund, the family decided that the 9.7-acre parcel across the street (R 236-9) should not be considered for protection at this time.
** UPDATE **
The Strafford Rivers Conservancy PO Box 623, Dover, NH, 03821 (603) 516-0772
Questions & Answers