Congaree Land Trust

“It is the intention of the congaree land trust ("clt") to establish a conservation easement enforcement policy to address violations of conservation easements held by clt should they occur. The policy is to provide guidelines and procedures to identity and document violations and to take actions to properly address those violations. I. Purpose for policy in order to effectively conserve land protected by conservation easements held by clt, clt must have the ability to recognize and address violations of the terms of those conservation easements. The ability to properly and effectively enforce the terms of conservation easements is critical to such protection. Furthermore, in order to accept tax-deductible gifts and qualify for tax-exempt status, irs regulations require that easement- accepting organizations commit to upholding the terms of an easement and maintaining the financial capability to enforce the restrictions. (see treas. Reg. 1.170a-14(c)(1)). It is important for clt board members and staff to recognize not only the importance of enforcement, but also the fact that each easement violation is unique and requires an approach that is tailored to the violation in question. For example, a major violation of a conservation easement will require a different approach than a relatively minor violation. The objective is to correct violations with the greatest degree of cooperation by the landowner. Ii. Objectives of policy the primary objective of this policy is to ensure the protection of conserved land by effective enforcement of conservation easements. The following are some guidelines and goals when dealing with violations: a. Maintaining the conservation purpose(s) of the conservation easement. B. Maintaining the confidence of clt members, other landowners and members of the public in clt's ability to enforce easement restrictions. C. Protecting clt's legal rights in the conservation easement and the protected property. D. Maintaining the most constructive working relationship possible with the landowner. E. Complying with all other policies of clt, including the conflict of interest policy where the landowner is also a person covered by the policy. F. Maintaining professionalism and integrity. G. Complying with all applicable laws, including federal and state laws regarding the tax exempt status of clt and clt's ability to accept donations of conservation easements (see internal revenue code sections 170(h) and 501(c)(3) and related regulations). H. Selecting the method of enforcement appropriate to the violation and level of harm resulting from the violation. I. Using litigation as a last resort and only when there is a meritorious legal basis for judicial action. J. Maintaining consistent responses to similar conservation easement violations. Iii. Strategies to prevent easement violations steps should be taken by clt staff to prevent violations of conservation easements. Not all violations are intentional, and the best method of violation prevention is frequent contact with landowners. The following are strategies to prevent easement violations: a. Maintain good relations with landowners. B. Conduct annual monitoring of all protected properties and prepare detailed monitoring reports, all in accordance with clt's stewardship policy. C. Make every effort to keep informed of when properties change hands. D. Ensure the clt employees and others who monitor properties are familiar with the terms of the conservation easement with which they are dealing. E. Promptly contact each new owner to ensure that the owner understands the terms of the conservation easement and the concepts and purposes of conservation easements in general. F. Encourage landowners to request reviews by clt of proposed activities on the property at any time they are uncertain whether such activities are permitted. Note: this is in addition to situations where the landowner is required by the terms of the easement to provide notice to clt prior to engagi”

“Although conservation easements are real property rights, they possess little or no market value due to a resale market that is essentially limited to the owner of the fee title of the restricted property. Because of this limited market and due to the obligation inherent in easement ownership, congaree land trust's easement holdings are not reflected on the financial statements either as assets or liabilities.”

“Clt has adopted fasb asc 740-10, accounting for uncertainty in income taxes, which prescribes measurement and disclosure requirements for current and deferred income tax provisions. As of june 30, 2020 and 2019, clt has no uncertain tax positions to report and therefore no adjustments have been made at this time. The following years are subject to examination by major tax jurisdictions at june 30, 2020: federal 2018-2020 south carolina 2018-2020”

“Book / tax depreciation difference 101”