Conservation easement as part of a 2 2 million dec fine for a large fish kill
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CONSERVATION EASEMENT AS PART OF A $2.2 MILLION DEC FINE FOR A LARGE FISH KILL PowerPoint PPT Presentation


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CONSERVATION EASEMENT AS PART OF A $2.2 MILLION DEC FINE FOR A LARGE FISH KILL. Result of Lagoon Breach 3,000,000 gallons spilled into the Black River 250,000+ fish killed Strongly scented tide moved through Watertown Water supplies shut down River activities shut down. NYS DEC Actions.

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CONSERVATION EASEMENT AS PART OF A $2.2 MILLION DEC FINE FOR A LARGE FISH KILL

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Conservation easement as part of a 2 2 million dec fine for a large fish kill

CONSERVATION EASEMENTAS PART OF A $2.2 MILLION DEC FINEFOR A LARGEFISH KILL


Conservation easement as part of a 2 2 million dec fine for a large fish kill

Result of Lagoon Breach3,000,000 gallons spilled into the Black River250,000+ fish killedStrongly scented tide moved through WatertownWater supplies shut downRiver activities shut down


Nys dec actions

NYS DEC Actions

$2.2 Million Fine for Fish Kill

(250,000 x $10 = $2.2 Million±)

$1.5 Million = Environmental Contribution

$700,000 = Cash or Equivalent


Environmental contributions

Environmental Contributions

  • $180,000 = Fishing Rights, Parking Areas and Paths to Black River

  • $1,320,000 = Development Rights


Development rights

Development Rights

  • Lowville Area, Lewis County

  • Parent Property = 3,269.98 Ac.

  • Flood Plain included 602.90 Ac.

  • Base Acres for CE = 2,667.08 Ac.

  • Assumed NYS FPP Requirements

    • Land Valuation Only

    • Standard NYS FPP Ag CE Terms


Before appraisal

Before Appraisal

  • Market Study

    • Frequency of Residential Land Sales

    • Size Ranges of Sales

    • Price Ranges for Size Ranges

    • Patterns of Land Purchases

    • Potential for Interior Subdivisions


Before appraisal hbu

Before Appraisal - HBU

  • Multiple Economic Units / Lots (81)

  • Size Mix Similar to Results of Market Study

  • All Roadfront Lots (no interior roads or utilities)

  • Considered Amenities


Before appraisal valuation

Before Appraisal - Valuation

  • Appraised All EUs as Individual Lots

  • Gross Value

  • Discounts for Subdivision, Marketing

    • Used Market Study As Basis

  • Net Value of Land


After appraisal

After Appraisal

  • Appraised Property as Single EU

  • 2,667.08-Ac. Tract of Farmland

    • Devoid of Development Rights

    • Ag-Related Development Permitted

  • Used Sales Approach

  • Surveys of CEs and ACEs

  • ICA – Ag Values of Soils + Other Retained Rights


Value of development rights

Value of Development Rights

  • Difference of Before and After Appraisals

  • Total Difference > $1,320,000

  • Acreage for AgCE Withdrawn Based on Owner’s Priority

    • Locations to Retain Development Rights

    • Deducted Difference of:

      • Discounted Value of EUs

      • Ag “After” Land Value


Questions

QUESTIONS?


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