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A Citizen’s
Primer on Open Space and Farmland Preservation Strategies
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The following text is
excerpted from a June 2002 educational brochure
prepared by the Open Space Land Acquisition and Preservation Committee.
 At the northern reach of the Quinebaug River in
Connecticut, Woodstock has long enjoyed an agricultural heritage due to
fertile soils and a temperate climate. Gently rolling hills, open
fields, forests and waterways have been valued not only for their scenic
beauty, but also for their economic potential and the contributions that
these resources have made for centuries to the quality of life in the
region. Agriculture, dairy farming, timber harvesting and
recreational opportunities are only some of Woodstock’s assets. The agrarian economy has
fostered village centers and neighborhoods that are now part of the
precious New England landscapes.
However, there is enormous pressure to develop
the “Last Green Valley” of which Woodstock is a part, as it forms the hub
of at least four major metropolitan areas on the corridor between Boston
and Washington D.C. Farmland is being irreversibly lost to commercial
and residential development, timberlands and their wildlife habitats are
becoming fragmented, and the backdrops of the historic villages are
threatened by suburban style sprawl.
At the turn of this
century, the citizens of Woodstock and surrounding areas have the historic
opportunity to contribute to the preservation of farmland and open space,
and in doing so, preserve the unique character of this region. This
brochure provides an overview of the possibilities.
It is strongly
recommended that property owners consult with an attorney and/or tax
consultant to determine the most appropriate tool for each situation.
OPEN
SPACE AND FARMLAND PRESERVATION STRATEGIES
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Outright
Conveyance: Land
may be transferred to the town, a local land trust, or nature
conservancy through a donation, “Bargain Sale”, or sale at
fair market value. Restrictions may be imposed on the
future use of the property, according to the donor’s wishes.
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Transfer
in Trust: Property, or a lesser interest therein, may be donated to
a nonprofit organization such as a local, state, or national
land conservation or historic trust, for the purpose of carrying
out personal wishes with respect to the property’s preservation
and use. This is an effective method of assuring the
perpetuation of the donor’s intentions where restricted use
is a primary concern. |
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Reservation of Life Estate (Remainder Interest):
In making a gift of land, and a personal residence if located
on the property, a life estate may be reserved which permits
use of the property (farm and/or residence) for the remainder
of the donor’s life or, if so stipulated, for the lives of
the spouse and children.
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Conservation
Easement (Conservation Restriction):
A conservation
easement is a legal agreement that a property owner makes
to restrict the type and amount of development that may take
place on a property to preserve natural/historic resources.
Each easement’s restrictions are tailored to the particular
property and the interests of the individual owner.
An easement “runs with the land”, which means that the original
owner and all subsequent owners are bound by the restrictions
of the easement.
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Testamentary Gift (Devise): A
gift of land by means of a will, may include one or more of
the alternatives previously discussed, including a conservation
easement and reservation of life estates. |
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Endowment:
The
gift of land may be accompanied by an endowment fund for the
purpose of supporting the conservation effort in perpetuity.
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There are many other
ways to support land conservation efforts including granting a
“right of first refusal” to a land trust; lease of
land to a land trust or to an agricultural interest so that it may be
maintained in productivity; exchanging mutual covenants with
neighboring land owners to preserve significant features or views;
entering into a management agreement with a land trust or
government agency to manage wildlife habitat; creation of charitable
annuities and charitable remainder trusts allowing
an owner to transfer land to a conservation organization while realizing
income and/or tax benefits; and purchase of development rights
by the State to create a conservation easement on agricultural land.
Buy
land. They've stopped making it.
- Mark Twain
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