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With a liability of between $650,000 and $750,000 for well decommissioning, $40,000 for asbestos abatement on the main buildings, and an on-going annual utility cost of about $1,000, it is likely that the liabilities of the Village’s 45 acres are greater than the asset value of the land. It would be to the Village’s benefit to donate their acreage. The chart to the right illustrates that liability.
If property in the well field area is purchased, money would be needed for acquisition, closing costs and any environmental mitigation. A not-for-profit entity may be needed to collect and account for funds. Some of the funding opportunities to be explored include:
The NOOA Coastal and Estuary Conservation
Community Forest Program
The NYS Dormitory Authority
Cornell Cooperative Extension
Conservation Fund
The Trust for Public Land
Adirondack Council
Navigable Waterway
Private Donors
Corporate Sponsorship/naming rights
Kickstarter or Go-Fund-Me
In addition, due to potential environmental concerns, remediation grants from State and Federal Agencies should also be sought.
The most desirable option is for the owners in the well field area is to donate land in order to preserve green space. Incentives to donate could include environmental consciousness, community awareness, a desirability to limit liability from the current properties, possible tax write-offs and a desire to preserve the property for future generations.54
On July 19, 2013, 2.04 acres of land in the well fields area was purchased from Monroe County for a total of $15,329.55 The price per acre appears to be $7,514.22. The acres purchased are heavily wooded. At the rate of $7,514.22 per acre, the Village of Webster’s 45 acres appears to have a value of $338,139.70.
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