White Paper: Option for Land Protection Component

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Land Entity Whiie Paper Appendix B Land Transaction Techniques November 30, 1999 The interview process suggests that the Program will likely need a variety of options to achieve its land protection and conservation objectives without deviating from the Program principle that all transactions must involve willing sellers or lessars. By defnition the transactions need to be tailored to both the interests of the landowner and of the Program to achieve land protection and managetnent objectives. A flexible menu of options is available, and any or all could be used in the context af the Program. The Governance Committee has yet to determine how broad a menu will be acceptable. A number of factors could influence the choice of techniques for a spF• -ic property. These include: objectives and motivation of the landnwner, importance of the ;iroperty for protectian and/or restoratian, degree of protection acbieved, cost of transaction, and management liability assumed by land entity. Since financial resaurces to protect and manage lands are limited, the costs of alternatives to ou#nght ptuchase are a consideration. They relate to transaction costs, management cvsts over the life of the projeot and pntential management liabilities. Optinns range from short-term protection (i.e., leases and management agreements) to perpetual protection tlvough conservatian easements and land ownership and management. The shorter-term the arrangements, the lower the cost and the degree of protection_ On the other tsand, since scientific understanding is incomplete with regard to best management practices for protecting endangered species habitat, the shorter-texm agreements could adapt as experience is gained with management optians. While perpetual protection of habitat resaurces is the long- term goal, flexible, more short-term arrangements may be more appropriate for the adaptive management approach of the Cooperative Agreement. The selection of a Land Entity model, and of an entity or entities to fill that role for the Program, may be influenced by the Govematace Committee's decisions on the types of land interests and transactions that will be sought. If a broad, flexible menu of options will be used, evaluation criteria should include experience with and the ability to accommodate this wide range of land transaction techniques. In addition, different techniques for land protection transactions may invoIve different relationships with current laakdowners and with the community, which may influence the governance structure and decision-making body formed to deal with land protection issues. The following is a list of nineteen techniques that are available for the land protection transactians and there are others that are potentially avaiiable. 1. Conservation Easement A conservation easement is a voluntary and permanent restriction limiting deveiopment of a property in order to protect conservation values. The easement can either be donated to a R-1