Conservation Easement at Winje's Farm Conservation Easement

February 13, 2010

Ownership qualifications

Filed under: Uncategorized — rnwinje @ 7:45 am

July 30th, 2008 Loren wrote:

The new farmbill will require all applicants to have owned the property for
more the 7 years prior to submission under the same company or name. There
are some new requirements for gross income that will most likely not affect
you but they reduced them to 1 million per year from non ag income from the
original 2.5 million. These are a few of the examples I was talking about.
I think we will be fine either way but, its a timing thing as far as this
year or having to wait for next year and new rules.

Then August 4th Loren wrote in response to the my questions about what we can expect to be required to do with any left over monies from the WRP:

You will have to ask Jessica directly but, for the FWS easements you can
spend the money as you want.  taxes are ususally the biggest concern for
many but, thats something to work out with your tax advisor.  you do not
have to save the money or put any towards it (easement) as far as I know.

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