Overlay Easements with Farming Covenants
Overlay Easements with Affordable and Affirmative Farming Covenants are relatively new tools for the land conservation community that provide additional restrictions to promote food production and farmland affordability.
Accomplished in conjunction with landowners, these restrictions are useful in reducing the value of farmland that is intended to remain in agricultural production. This can benefit both current and future landowners in the sale and resale of farmland as well as for estate tax purposes.
Restrictions can include prohibitions on specific types of agricultural products (e.g., equestrian, horticulture); tying future sales to appreciation and Consumer Price Index (CPI); restrictions on the number of years land can lay fallow; and requiring resale to be to "qualified" farmers.
To learn more about farmland protection opportunities, contact
Related Staff
Staff
Kim Quarty
Director of Conservation Planning
kquarty@peconiclandtrust.org