LD 1930
pg. 3
Page 2 of 5 An Act Regarding Working Waterfront Covenants under the Land For Maine's Future... Page 4 of 5
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LR 3031
Item 1

 
C.__The Attorney General.

 
2.__Municipality.__An action affecting a working waterfront
covenant may be intervened in by the municipality in which the
real property burdened by the covenant is located.

 
3.__Power of court.__The court may enforce a working
waterfront covenant by injunction or other proceeding at law or
in equity.__Acting in accordance with charitable trust
principles, the court may modify, terminate or deny equitable
enforcement of a working waterfront covenant in an action in
which the Attorney General is made a party when the Commissioner
of Marine Resources finds that, due to a change in circumstance,
the covenant is no longer necessary to advance the public
interest in the commercial marine fisheries of the State. If the
court modifies, terminates or denies equitable enforcement of a
working waterfront covenant, the court may order payment by the
landowner of money or other damages to the holder or the State,
which shall apply the same in a manner consistent with the
purposes of this law as approved by the court.

 
The fact that a working waterfront property might be used for
more valuable economic purposes may not be considered in
determining whether a working waterfront covenant is no longer in
the public interest.

 
§134.__Scope of working waterfront covenant

 
A working waterfront covenant must include without limitation
at least one of the following terms:

 
1.__Resale price of working waterfront real estate.__
Limitations on the resale price of working waterfront real
estate;

 
2.__Amount of equity appreciation.__Limitations on the amount
of equity appreciation that a landowner may derive from ownership
of working waterfront real estate;

 
3.__Improvements to working waterfront real estate.__
Limitations on the type, extent, use or dollar value of
improvements that may be made to working waterfront real estate;

 
4.__Persons to whom working waterfront real estate may be
sold.__Consistent with the purposes of this chapter, restrictions
on the types of persons or businesses to whom working waterfront
real estate may be sold, leased or used as long as such
restrictions do not unlawfully discriminate against any person.


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