Building Capacity through a Revolving Fund: On April 17, 2017, the Kolb House burned to the ground. The c. 1850 vernacular house served as a prison camp for Union soldiers and as a Confederate hospital during different stages of the Civil War. The land surrounding the house was prioritized by the Madison Greenspace Commission for acquisition as part of its master trail plan. The house was listed on the GA Trust’s Places in Peril in 2014 and on the Conservancy’s Endangered Properties List.
We don’t want to see this happen to another significant property in Morgan County, so we’re working to develop a revolving fund.
A revolving fund is a source of capital used to purchase, protect, and then sell critical properties. Funds from the sale are reinvested into the revolving fund for the next project.
In Morgan County, the Endangered Properties Revolving Fund is uniquely designed to protect historic structures AND undeveloped land. The Conservancy will acquire properties that include both structures and land through donation, purchase, or option agreements, market/sell those properties to conservation buyers, and reinvest the proceeds into the revolving fund for the next project.
Thanks to a generous grant from The 1772 Foundation, a feasibility study concluded in November which explored the feasibility of this kind of revolving fund in Morgan County. Read the feasibility study here.
If you would like to know more about the Endangered Properties Revolving Fund or support our efforts in developing this fund, please contact us.