Sharon Cairns Mann:  award-winning author
  • Home
  • Fiction
  • Nonfiction
  • Awards
  • Blog: A Good Read
  • FOR SALE: Aflac Duck Collection
  • Contact & Sign Up
  • Product

Blog Post #12:  Happy Futures

8/11/2016

0 Comments

 
The state was unquestionably seeking to “incentivize” landowners.  If that’s not bait, I don’t know what is.
Can you imagine how happy you would be if you made that kind of money for your family members or friends while doing some good for the environment!?  
Picture
During 2006, we continued to move forward with another batch of conservation easements.  We were able to complete the paperwork (appraisals, baseline reports, etc.,) and by the end of the year we had created another eight conservations easements and donated them to Noah Land Conservation. 
 
Again, we carefully reviewed every document that Todd sent us.  The paperwork for each transaction was a bit overwhelming, but we powered through. 
 
Todd handled brokering the sales of the tax credits to the transferees and had no trouble finding people who wanted them.  It certainly seemed as if it were true that he had people lining up to buy them.  And, we started hearing more about others who were doing conservation easements.  It seemed like a gold mine for everyone, and everyone seemed happy.  More and more land was being permanently preserved in Colorado.  Landowners weren’t making as much as they would have from an outright sale of the land, but they got to live on their own land and enjoy it, protect it from future development, and receive the tax credit or the proceeds from selling the tax credit.  And, of course, they also got the federal deduction. 
 
The State of Colorado Is Happy
 
In fact, the State was so happy with this program that on May 1st, 2006, Colorado Governor Owens signed House Bill 06-1354 into law.  This bill: 
 
  • Adjusted the formula structure of the conservation easement tax credit program.  It replaces the previous two-tiered structure with a single-rate structure that allows up to 50% of the fair market value (FMV) of the conservation easement to be claimed as a state tax credit. 
  • The bill simultaneously increased the maximum amount of the credit that may be claimed from $260,000 to $375,000 (50% of the first 750,000 FMV of the donation), meaning we would be able to sell the tax credits for more.
 
It’s hard to believe, with the passage of an optimistic and incentivizing bill like that, that the state was unhappy with the C.E. program.  I can’t overstate this – the state was unquestionably seeking to “incentivize” landowners.  If that’s not bait, I don’t know what is.
 
We closed out 2006 with eight more C.E.s, and in early 2007, we again wrote checks to our partners.  By the time we sent this second batch of checks, the return on their original investment was close to 400% and we were thrilled that our patience and their patience had paid off.  Can you imagine how happy you would be if you made that kind of money for your family members or friends while doing some good for the environment!? 
 
Just a few more years of doing these donations in batches, and we would be finished. Eventually all the land would be in C.E.’s and we could end the partnership, and feel confident that we had done a beautiful thing.  Life was good and we all had happy futures.  
© Sharon Cairns Mann

0 Comments



Leave a Reply.

    Author

    Hi! Welcome to this blog!   I'm a professional writer and award-winning author. I didn't really want to write this blog, but I also believe that the story of the huge conservation easement fiasco in Colorado has not yet been adequately told. So here it is!

    It's so long, I've had to serialize it, so please note that you have to START with Blog Post #1 (June 28, 2016) for the story to make sense!  So, if you're new to the blog, please go back to the beginning and start there.   

    New Post Notifications 
    ​The best way to hear about each my new blog posts on Swindled is to just go to my Public Facebook Page at
    Sharon Cairns Mann Writer
    and hit the "Like" button in the cover photo at the top. Every time I do a new blog post here, I'll announce it there, so it should keep you up-to-date. 

    But if you are interested in free writing tips and coaching, please subscribe to "Writerly News" by clicking the button below.

    Subscribe to "Writerly News"

    Archives

    April 2018
    April 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016

    Categories

    All

    RSS Feed

Powered by Create your own unique website with customizable templates.