There are 4 parcels with ownership issues along the Near Trapps. The land in the image below that is present to the west of the red dashed line is on talus and is steep. As such, it would be very difficult to develop it.
Suppose some entity (OSI, TNC, MP, NYS, GCC, town) were to purchase this portion of each parcel. I very much doubt the value of each parcel would be dramatically affected; you can't build there anyway. Thus the assessed value would not change much, and neither would the taxes. However, the owners of each parcel would get some value (price to be negotiated). The only "use" of this land would be a trail near the upper (western) edge of the parcel; the rest of the land would be unused. Therefore, the adjacent owner would not have to suffer any apparent loss in 'isolation value' of his property, and could even freely access the portion he sold.
Other than coming up with the purchaser and the cash, what is the problem with this scenario? Who would be the loser in this deal? I guess we would utlimately want MP ownership to secure climbing access.