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Conservation commission creates Open Space Land Bank Exploration Committee to study funding options
Summary
The commission voted to form an Open Space Conservation and Land Bank Exploration Committee to model funding approaches — including conveyance-tax set‑asides and modest budget appropriations — to prepare the town to acquire open space when opportunities arise.
The Conservation Commission approved formation of an Open Space Conservation and Land Bank Exploration Committee to research ways the town could fund acquisition of open space, including models that use conveyance‑tax set‑asides, targeted budget appropriations and donor catalysts.
Commissioners said the town has repeatedly lost opportunities to buy land because it lacked ready funds. One member described conveyance‑tax set‑asides used on Nantucket — where small percentages of transfer taxes generate material funds for land acquisition — and said the committee will model a range of options to show what different set‑aside rates would produce over five years.
Members cautioned that at small set‑aside rates it could take years to accumulate purchase‑ready dollars in New Canaan’s market; the committee’s task will be to examine best practices, legal constraints and safeguards to ensure the fund is used for open‑space purchases rather than unrelated expenditures. The commission discussed previous local funding approaches (modest annual appropriations of $50,000 in past budgets) and noted donor contributions and state grants often play catalytic roles.
A motion to create the exploration committee was moved, seconded and approved by voice vote. The newly formed committee will report back with models and recommendations for possible charter or budget mechanisms to create a standing land‑bank fund.
