Summary of Expenses
Barbara Siebens' Gift
We report the following figures, because even the donation of land to the Trust causes operational expenses, which your dues, grants and gifts must cover.
Mrs. Siebens herself was in no hurry and had planned to accomplish
this gift sometime in 1997. In November, 1996, however, the Executor
of her late husband's Estate, having learned about her proposed
gift, urged her to complete it in 1996. Accordingly, to accomplish
this gift by December 31, 1996, the Executor prepared a transaction
whereby the Trust received the donation of her entire property
(65 acres) while leasing back to Mrs. Siebens with a 99-year
lease 25 acres and her house. In this transfer, HLT agreed
formally to complete the subdivision of the property in three
portions and return two parts to Mrs. Siebens within five
years. In 1997, without the pressure of time HLT arranged
the preparation of deeds for the 20 acres to the neighbor,
for the return of the house and five acres to Mrs. Siebens,
and for canceling the 99-year lease, thus leaving HLT with
forty beautiful acres of woodland along upper Deer Creek!
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Appraised value of land donated:
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$165,000
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HLT's Costs of Donation:
Land Surveying & Planning by Edwin O. Weaver
(Boundary Survey: $950, Subdivision Plat: $420, Discount $500)
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$870
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Phase One Environmental Assessment
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$950
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Legal Fees & Expenses of Leaf & Mahoney, P.A.
(Discount $500)
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$2,692
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Recording of Deeds
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$97
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HLT Staff Time and Incidental Expenses
(1996: $3,531, 1997: $2,586)
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$6,127
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Total Project Costs
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$11,699
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