In your letter to the Editor posted recently which you titled “A Conversation about Life” you refer to a major part of the Land Bank mandate is “stewardship in perpetuity”. You are correct that this is a major part of the mandate. It is also one that has been addressed in great detail amongst the Land Bank Commission over the years. I would like to posit that having any conversation about life should include the notion of participation and engagement. If you had been engaged and a participant you would know this truth about the Land Bank. You would have attended meetings and understood the basic workings of this organization before you would write letters to the editor about that organization. Life is a participatory endeavor.

With your letter, and how it is written, you have introduced doubt into people’s minds about the long-term viability of an excellent organization. You have done this irresponsibly as you do not have all the information.

I was a Land Bank Commissioner for fourteen years. I served as Financial Officer, Chair, and Vice Chair during my tenure. I can assure you, and the people of San Juan County that the notion of “stewardship in perpetuity” is one that has been, is currently, and will continue to be very much in the conversations about the Land Bank’s future.

There are records of all of these conversations peppered throughout the very public records and minutes of Land Bank meetings. It is an area of responsibility that the Land Bank Commissioners take very seriously. The Commissioners dedicate an annual contribution to the Stewardship Endowment Fund for this very purpose and retain the right to make further contributions as needed. It does need to be understood that the Land Bank is constrained to very conservative investment policies and that there is a limit to what can be expected in returns. Conservative investments include CD’s and Treasury Bonds. It is rare and fleeting that these investments throw off much in the way of interest. This is one of the reasons the Land Bank partners with the SJ Preservation Trust so that some stewardship funds can be held outside these conservative constraints. The Turtleback Stewardship Fund is invested in a fiscally conservative way that includes stocks and bonds and can in theory earn more. The same is true for the Mt. Grant Stewardship Fund.

If you had been engaged you would know that the Stewardship Endowment, at the end of 2026 (the potential sunset of the Land Bank should it not be renewed), will be at a level to maintain Land Bank properties for about ten years beyond with the hope that the good people of San Juan County will find a way to keep things going longer. The $50M goal that you espouse is one that is a worthy goal but the 4% distribution rate is unlikely to be sustainable on an annual basis. Nevertheless, these are goals to endeavor to reach but there is a hefty dose of reality involved.

This is why there is more work to be done by the Land Bank in keeping this special place that we are fortunate to live in one that is balanced between managed growth and keeping our sense of place. The Land Bank and it’s mandate is an important component of any managed growth process. The transparency is there and respected by the LBC. The records are public. One just needs to do some research. Transparency also involves participation. The information is there for you but you need to seek it out.

Please, RENEW OUR LAND BANK. There is always more work to be done.

Jim Skoog,

San Juan Island