Land trust completes certification

The Legacy Land Trust recently received its certification from the Colorado Department of Regulatory Agencies.

The certification is part of a new statewide program required of conservation easement holders. The Legacy Land Trust, which focuses on Northern Colorado, was one of 29 land trusts in Colorado that applied for certification this summer. The initial certification cost the Legacy Land Trust $10,000 and is expected to pay $5,000 annually to maintain.

“Not only do the certification and reporting qualifications make the conservation easement program better, it results in better land conservation for the future, even if it adds to the cost of each transaction,´ said Ryan Boggs, executive director of Legacy Land Trust in a prepared statement.

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The Colorado Division of Real Estate began investigating alleged conservation easement abuse in the fall of 2007. The investigation revealed more than $100 million in suspect tax credits and resulted in license revocations for three real estate appraisers charged with overvaluing easements to increase the tax credits. Governor Bill Ritter signed House Bill 08-1353 into law in June of 2008. The legislation set up the certification program from conservation easement holders and formed the Conservation Easement Oversight Commission. The Legacy Land Trust pointed out that appraisal reviews were conducted as part of the certification process.