APB agenda 052103 - Laserfiche WebLink

Browse Search

April 2003 farmland preservation report Page 7 Growing Greener funds from Term easements temporary to permanent at $20 "What impressed me most [during the conference] was the need million annually. The finding `04- ;, for less - than - perpetuity easements, said Erik Vink, assistant director source is due to sunset in the '05 budget year. HB 667 is the of the California Department of Conservation. "We have a leg up in $150 million bond bill that was California with the Williamson Act," he said. passed last year in the House and Anita Zurbrugg, assistant director of the American Farmland got hung up in the Senate. It could Trust Center for Agriculture in the Environment, said the advent of move later this month. less than perpetuity easements will depend on state enabling laws, SB 924, in the Senate Finance Committee, would reduce state future challenges to perpetual easements, and valuation and tax inheritance tax to one dollar ($1) treatment that will be devised for term easements. Most states per acre. Currently, inheritance is "establish a default favoring perpetual easements," Zurbrugg said, taxed at 4.5% of the value of the "but a few others limit the duration of easements unless specifically assets when passed on to direct spelled out as perpetual in the easement." descendents. In New Jersey... The governor Tom Daniels, professor of planning at the State University of wants to keep farmland preserva- New York, said several federal conservation programs allow 30 -year tion bond funding at the $SO easements. As a consultant, Daniels wrote a 10 -year easement million funding level, but the program for the Town of Southampton on Long Island. Daniels also legislature isn't so sure. June 3o is noted that some states allow landowners to seek easement termina- the budget deadline. The bond funding is highly coveted as the tion after 25 years, reached in Maryland this year (see March, FPR). state deals with a $5 billion deficit Vink and others at.the conference noted that in some circum- in a $23 billion budget, stances term easements could help reluctant landowners enter into In Kentucky... The program was deed restrictions that could later become a permanent easement. given authority this'month to make offers on 36 properties and has L.andpooling about $6 million. In Michigan ... The state is David Renkert, founder of Landpool Administrators, LLC, making progress in transferring described a European concept he has been developing for private farmland preservation to localities, sector use within the United States. Initiated by landowners, tracts of with counties either with land are assembled to create a unified regional development plan that ms or working on establish- programs a ing them: But money is hard to includes ecological and watershed elements. come by, with just $1.5 million In an investment and finance arrangement, private property available. "It will probably be a owners, usually adjacent, determine what type of development will while before we have another occur, and what areas will be conserved. Individuals, companies, cycle," said program manager trusts and pension funds can invest in the venture. Landpools are Rich Harlow. Patricia Norris of Michigan businesses in which landowners and investors act as members on a State University, said targeting corporate board of directors. money in Michigan "is tantamount "What we are doing is delineating an area and turning it into a because of highly varying land business," Renkert said. The areas are secured with options and values" going as high as $20,000 rights of first refusal. Renkert said the technique is a way to end an acre. The state is trying to get out uncertain about the future of an urban fringe area and to integrate uncertainty g gr of the farmland preservation :.• . _ conservation planning with environmentally sound development on a business and get localities into it,"- regional scale. Norris said. "Well designed landpools will promote the protection of natural resources and habitats in their entirety with a long term view to financially capitalizing on their protection," he said. . Contacts: Patricia Norris, 517 353 -7856; Tom Daniels, 518 442 -4469; David Renkert, 206 200 -8009, info @landpooling.com.