Auditors Lash SC Land Conservation Fund for Poor Management

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COLUMBIA, S.C. (AP) – Auditors say a public-private South Carolina fund dedicated to protecting open spaces from development has been overpaying for property.

Multiple media organizations reported that Legislature-hired auditors said Thursday there wasn’t sufficient proof that land purchased was in danger of development or worth the price.

Auditors also say the South Carolina Conservation Bank sometimes has promised to buy land when it didn’t have money available.

The bank has conserved nearly 300,000 acres since 2004 including landmarks like Morris Island and the Angel Oak on Johns Island.

Some legislators and real estate interests want to kill the fund because it uses money from fees on property transfers.

Environmental groups want lawmakers to authorize the fund for another five years of operation.