Trust Gets Rights To 41 Acres
Gift By Organization's President Ends Possibility Of
Development
Gift By Organization's President Ends Possibility Of
Development
Hartford Courant
December 16, 2004
By JESSE LEAVENWORTH, Courant Staff Writer
NEW HARTFORD -- The president of the New Hartford Land Trust has given the
organization development rights on 41 acres of woodland he owns.
Ron Eigenbrod's donation, which was approved recently by the land trust's board,
means the land, between West Hill Road and Johnnycake Lane, can never be
developed.
Developers had purchased the land in the mid-1980s and it was approved for 18
building lots in 1991, according to a land trust press release. The houses, however,
were never built, and Eigenbrod bought the property after a foreclosure.
He said Wednesday that he's donating development rights mainly because he wants
the land to remain open, but also because of the tax benefits. Eigenbrod will retain
ownership of the land, and the federal government allows taxpayers to deduct the fair
market value of a conservation easement from their income when calculating taxes.
Eigenbrod urged other land owners to consider similar donations. He noted that
residents have approved $1.5 million in bonding for open space, which includes
outright land purchases as well as development rights purchases.
"In such a deal, a landowner might sell the development rights to the town at a bargain
price, get a tax deduction for the balance of the fair market value, and still retain
ownership of the land itself," according to the land trust press release. "For many land
owners, this might be a viable alternative to selling to developers."
For more information about conservation easements, visit the New Hartford Land Trust
website at www.newhartfordlandtrust.org, or contact the open space commission
through town hall.
December 16, 2004
By JESSE LEAVENWORTH, Courant Staff Writer
NEW HARTFORD -- The president of the New Hartford Land Trust has given the
organization development rights on 41 acres of woodland he owns.
Ron Eigenbrod's donation, which was approved recently by the land trust's board,
means the land, between West Hill Road and Johnnycake Lane, can never be
developed.
Developers had purchased the land in the mid-1980s and it was approved for 18
building lots in 1991, according to a land trust press release. The houses, however,
were never built, and Eigenbrod bought the property after a foreclosure.
He said Wednesday that he's donating development rights mainly because he wants
the land to remain open, but also because of the tax benefits. Eigenbrod will retain
ownership of the land, and the federal government allows taxpayers to deduct the fair
market value of a conservation easement from their income when calculating taxes.
Eigenbrod urged other land owners to consider similar donations. He noted that
residents have approved $1.5 million in bonding for open space, which includes
outright land purchases as well as development rights purchases.
"In such a deal, a landowner might sell the development rights to the town at a bargain
price, get a tax deduction for the balance of the fair market value, and still retain
ownership of the land itself," according to the land trust press release. "For many land
owners, this might be a viable alternative to selling to developers."
For more information about conservation easements, visit the New Hartford Land Trust
website at www.newhartfordlandtrust.org, or contact the open space commission
through town hall.
New Hartford Land Trust
PO Box 272
New Hartford CT 06057
newhartfordlandtrust@yahoo.com
PO Box 272
New Hartford CT 06057
newhartfordlandtrust@yahoo.com
New Hartford Land Trust
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