Conservation Portfolio Map

Conservation Easement Transaction Process

1.   Landowner submits completed Project Application to CRT.

a.Projects approved by Conservation Committee are recommended to CRT Board on several priority (Tier) levels (go to Step 3).

b.Projects that meet most of CRT's criteria but do not qualify as a priority tier are put on hold for further evaluation, change in funding environment, or to seek partnership with another land trust.

c.Projects that do not meet CRT's criteria – staff notifies landowner(s).

d.More information needed – staff follows up with landowner(s) and project is reviewed at future Conservation Committee meeting.

3.   Board reviews applications approved by the Conservation Committee.

a.CRT projects – board will select based on likelihood of funding(go to Step 4).Staff requests $500 contribution and exclusive agreement.Landowner advised to obtain own legal/financial counsel.

b.Partnership projects – board will prioritize projects and contact potential partner(s). Staff requests $500 contribution and exclusive agreement.Landowner advised to obtain own legal/financial counsel.

c.Mitigation projects – board will approve pending meeting with landowner if application filed by developer.Staff requests $5000 from developer. Landowner advised to obtain own legal/financial counsel.

4.   CRT staff and/or director make an on-site visit to the property.During this visit, CRT will also meet with all identified owners of the property and their family members to ensure that all are committed to the project.The owner(s) will select a contact person to work with CRT.

5.   CRT and/or landowner obtain preliminary title report, preliminary appraisal, information on mineral rights and any other relevant documentation.

6.   CRT identifies potential funding sources.If funding not apparent, project is held pending identification of funding.

7.   CRT enters into Exclusive Agreement with the landowner to purchase the easement.On partnership projects, CRT also enters into a Memorandum of Understanding with the project partner(s).

8.   Once preliminary funding identified and conditionally obtained, CRT, landowner, and potential funders review CRT form conservation easement and negotiate any changes necessary to meet landowner's intent and funding requirements. CRT will have easement reviewed by attorney.Following agreement on draft, the document will be provided to the appraiser for completion of final appraisal.

9.   CRT and landowner enter into option agreement to acquire the conservation easement pending final approval of the funding, and a contribution agreement for payment of the monitoring endowment, cost recovery and landowner contribution.

10.   CRT and/or landowner obtain hazardous materials phase 1 assessment.If landowner does not own surface mineral rights, a geologist's report is also obtained.

11.   Preliminary title report is updated and reviewed.All monetary liens must be released or subordinated to the conservation easement prior to closing the easement transaction.

12.   CRT finalizes fundraising.Acquisition funds obtained.

13.   CRT obtains present conditions report, which is prepared in cooperation with landowner.CRT and landowner approve report.

14.   Project is presented to CRT board for final approval, and authority for executive director or board chair to sign conservation easement and other closing documents

15.   Easement is purchased (or donated) and recorded.Monitoring endowment, cost recovery and landowner contribution are paid to CRT.

16.   Project dedication and publicity.

17.   Annual monitoring commences the year following the recording of the easement.If required, sign is ordered and posted.

Conservation Portfolio Map

Glossary of Terms