Laserfiche WebLink
Disadvantages: Most expensive of all acquisition tools. <br />Conservation Easements: <br />How it works: Legal restriction voluntarily placed on a property by its owner. Enforcement rights are <br />granted to a public agency or charitable organization. Easement is customized to meet landowner <br />needs, including retention of certain rights. <br />Advantages: Landowners can protect land in perpetuity while maintaining ownership. There are <br />significant savings on taxes including property, income and estate taxes. Landowners are motivated to <br />donate CEs because Colorado allows transferable tax credits for qualified donations. Currently, a CE <br />donor can earn up to $375,000 in state income tax credits. Under policies now in effect, these credits <br />can be carried forward for up to 20 years and used as needed to offset state income tax payments, or <br />sold to others. <br />Disadvantages: Conservation easements are irrevocable and rights included are no longer an option <br />for landowner. <br />Trail Easements: <br />How it works: A partial interest in a property is granted to allow entry onto another landowner's <br />property. Trail facilities are developed within a designated area, to allow users onto the corridor to use <br />the trail. Negotiation between trail managers and owners usually occurs. Owners may be willing to <br />allow access for a fee or donation of the easement. <br />Advantages: Easement acquisition is usually cheaper than outright purchase of land. There are less <br />disruptions of existing land uses. <br />Disadvantages: Tensions can arise between entities regarding terms or covenants. Term easements <br />can cause problems if owner does not choose to renew the easement. <br />Parkland/Trail Dedication: <br />How it works: City requires developers and builders to dedicate park/trail lands or pay a fee that is <br />used to acquire and develop park and trail facilities. This exaction fee is a way to offset increased <br />demand for parks or trails created by developer/new homeowner. <br />Advantages: Cities can conserve open spaces at the pace of land development. Developers can <br />negotiate to construct facilities saving cost to both parties. <br />Disadvantages: Although courts generally uphold this type of exaction, it could result in litigation for <br />requiring payment/land dedication. <br />Bargain Sale of Land: <br />How it works: An agreement is created to sell land for less than fair market value between City and <br />landowner. <br />Advantages: Potential tax benefits exist such as charitable donations and a reduction in capital gains <br />tax. Sellers are often motivated to see land preserved. <br />Disadvantages: Less profit for seller than selling at fair market value. Conservation value restraints <br />may limit agency ability to purchase property. <br />0 Page 3 <br />