Lexington, KY Claiborne Farm, the iconic Thoroughbred breeding operation near Paris, Kentucky, recently announced that it has donated a 3,000 acre easement to the Bluegrass Conservancy. The Conservancy allows the farm to remain legally in possession of the Hancock family, which has owned and operated it for over a century and across five generations.
“It’s something that’s been on our minds,” said Dell Hancock, representative of the Hancock family. “We all grew up on that farm, and we love the land. It’s wonderful to think it’ll be preserved. “Fortunately in Paris, development hasn’t been as rampant as it has in Fayette County, but we do skirt town so it’s nice to know that we’re safe.”
According to the Conservancy’s website, the conservation easements it provides are voluntary legal contracts between the non-profit and the landowners to prevent development. The Conservancy allows donors to create a development plan that allows some building on their land for small structures such as houses for their children or limited construction for their agricultural businesses.
Landowners who protect their farms with conservation easements are also eligible to receive federal income tax breaks, as well as breaks on estate tax. Conservation easements aren’t just beneficial for the donor involved, however.
The Land Trust Alliance asserts that development of open space almost always results in a greater financial burden for required infrastructure than localities receive from the taxpayers who move into developments. Open space or farmland in contrast, don’t require the extra public services that a residential neighborhood does and a tax surplus often results instead.
Further, the Alliance cites a survey by the National Association of Realtors which stated that half of homebuyers would be willing to pay at least ten percent more for a house near a protected open space such as a farm.
“Claiborne is leading by example,” said Mackenzie Royce, executive director of the Bluegrass Conservancy. “The farm’s protection certainly takes our regional conservation movement to the next level.”
Royce and Hancock hope that the high-profile donation will encourage others in the central Kentucky area to consider protecting their farmland before it’s too late.
“Over the next decade, millions of acres of farmland are going to change hands,” said Royce. “The Hancocks have recognized, as we do, that the beauty of our iconic agricultural landscape is what puts Kentucky on the world map – and it’s a major part of our economy. We are immensely grateful for the foresight and vision of people like the Hancock family.”
“I would hope [other farms will move to conserve their land] but it’s a personal decision. It’s something they’ve got to embrace,” said Hancock.
Claiborne is known as a cornerstone of Kentucky’s Thoroughbred breeding industry. In its 102 years it has raised more than 75 champions and been home to 16 Broodmares of the Year, as well as notable stallions Nasrullah, Danzig, Mr. Prospector, and Secretariat. Its operation also includes racing under its iconic yellow and white silks, as well as commercial sales. Currently, the farm stands 11 stallions, including Blame, the famous winner of the 2010 Breeder’s Cup Classic over Horse of the Year Zenyatta at Churchill Downs.
Nationwide, the Alliance found that some 10 million acres had been conserved between 2005 and 2010. Kentucky’s 13 land trusts protected nearly 24,000 acres in that time, marking a 134 percent increase over previous years. The Bluegrass Conservancy has been responsible for the protection of 92 parcels encompassing about 17, 215 acres since its foundation in 1995.
The Conservancy is a completely privately-funded nonprofit, and currently has holdings in Anderson, Bourbon, Boyle, Clark, Fayette, Franklin, Jessamine, Madison, Mercer, Scott and Woodford counties. Part of the group’s mission in conservation is not just the preservation of scenic, open spaces but also providing neighbors a visual reminder of the state’s rural heritage and the necessity of agriculture to its economy.
For more information about land conservation or the Bluegrass Conservancy, visit www.bluegrassconservancy.org.