(A) If the Woodford County Rural Land Board or an accredited land trust and the landowner reach an agreement as to the terms of the proposed deed of easement, the Board shall secure an appraisal to determine the conservation easement value. The Board may confer this responsibility to an accredited land trust and contribute to the cost of the appraisal. The cost of the appraisal shall be paid for from funds held by the Woodford County Rural Land Board and/or the accredited land trust with whom the Board is partnering and the methodology shall be determined by the Board in accordance with the following:
(1) The appraisal shall be conducted per the requirements of the IRS and/or relevant federal or state funding agencies by a certified real estate appraiser who is qualified to appraise property for easement purchase. The appraisal shall to the extent possible be based on an analysis of comparable sales.
(2) The appraisal shall include, at a minimum, a legal description of the appraised parcel of land, description of improvements, photos of the parcel of land, color aerial photos of the subject parcel of land (photos may be Woodford County GIS based), pertinent data for each comparable sale, any attributes which limit the development of the parcel of land, and a description of the area or neighborhood in which the parcel of land is located.
(3) The appraisal shall contain an analysis of the highest and best use of the parcel of land, the valuation methodology used by the appraiser to determine value, the market value, and the conservation easement value of the parcel of land. The value of any buildings or other improvements shall appear separately in the appraisal report.
(B) The Woodford County Rural Land Board or the accredited land trust shall send a copy of the appraisal to the landowner with a letter advising that within 30 days the landowner must:
(1) Signify agreement with the conservation easement value determined by the Woodford County Rural Land Board appraisal; or
(2) Withdraw the applicant’s application.
(Ord. 2009-06, passed 7-14-2009; Am. Ord. 2023-05, passed 5-23-2023)