Saving Windrock

This is an aerial view of Windrock, the beloved family homestead on Buzzard's Bay in Wareham, Massachusetts.  A bit more than 300' wide and a mile long, these 33 acres have been in the family for 60 years.  As I have posted here, two generations of us are fighting to save this land for our children and grandchildren, and are negotiating the sale of a conservation easement over 2/3 of the property to allow us to do so.

This map shows the property outlined in red and with what appear to be several internal divisions.  Those bright white driveways of our neighbors are crushed clam and oyster shells, but our driveway is under a closed canopy of trees.

We are considering selling a conservation easement (called conservation restrictions or CRs  in Massachusetts) over all but the 12 acre piece closest to the shore.  The amount we were initially offered for extinguishing development rights on the remainder does not make our numbers work, so we are also considering selling an easement over only 18 acres and retaining two 1.5 acre buildable lots out by the road next to the golf course.  The little wedge-shaped panhandle is at the entrance to our driveway and is 180' wide to so that we would retain frontage for ourselves in a development scenario where we can't make the conservation transaction work and have to develop not one or two but four lots out by the road.

This map forms the basis of our conservation negotiations, which are complicated because we are selling  extinguished building rights to retain ownership in the land.  There is a buyer's market for extinguished rights and they do not pay the full equivalent of the appraised development value of the property.  Some families can take advantage of a bargain sale at <85% of fair market value and realize substantial federal income tax deductions, but we are not likely to qualify.  We have a strong conservation ethic but a range of financial capacity across the family, and we have a limited amount of time to replenish the trust that my grandparents lovingly established to care for the property.  Summer rental and family contributions will help keep us afloat, but either through development or conservation we need to tap some of the equity in the land as well.

I am a conservation professional and have been on the land trust side of such transactions more times than I can count. I have also helped private landowners negotiate with land trusts.  There is no question, though, that saving family land is even harder when it is your own.

Comments

[Laura]

Well, best of luck with it. I'll look forward to updates in the future.

[GreenmanTim]

Laura, it gives me pleasure to know that my posts about Windrock have had that effect on you. It is, for us, the closest to heaven we expect to find on Earth.

Our family would be in a very difficult place without the advice of a conservation professional looking out for its interests. Fortunately, I possess those skills and can offer them as part of my contribution to saving our land. Many families reach the crisis point without having fully investigated the range of options that might exist for retaining their land and transferring it intact to subsequent generations. Most of the professional advice customarily available to them is from a attorney, financial advisor, or realtor. These are all important sources of information, but they understand the development equity in the land far better than its conservation value.

Conservation transactions can often offer benefits that compare favorably with some development scenarios, and additional ones (tax advantages, life tenancy, retained ownership) that sale of land for development does not provide.

Because I have worked for two very large conservation organizations (TNC and TPL) and also worked for private landowners negotiating with conservation groups, I find myself in a unique position to help my extended family evaluate its options and understand what to expect from its own conservation negotiation. There are challenges unique to my situation, too, because my role within the family is changing as I step forward with these skills and it is not always easy for them or for me to make that adjustment. You can fire a hired professional if you are not satisfied with the services provided, but I am family, an invested party to the negotiations, and working for free and that can get complicated. There is a strong sense of urgency and a high level of uncertainty, and feelings can get hurt quite unintentionally in the process. It requires tact and patience to help everyone process the information we have, adjust our expectations, and move forward toward shared goals. That is very hard but very worth the effort.

[Laura]

I don't understand all the technicalities Tim, but hope that you and your extended family will find a way to save the place that will preserve memories as well as the physical space.

I've so enjoyed the few times that you've written about Windrock and feel sort of enchanted with this place I've never seen.

I wonder what you'd be facing if you didn't have the knowledge that you do? What would happen to this special place?

[Terry Cowgill]

Tim,

Thanks for that personal perspective on conservation easements. It must feel strange to be on the other side of the fence. Sort of like when I am interviewed by a reporter.

I sailed across that bay once. In high school, I spent a summer as a stagehand at a dinner theatre in Buzzard's Bay. A friend of mine had a family place in Marion. I liked being slightly "Off-Cape," as the expression goes.

Good luck in preserving that lovely spot.