We didn't do that, but we considered something kind of similar. We had a neighbor that wanted to build a 4 bedroom house on a lot that wasn't quite big enough for the required septic. He wanted our club to sell him a deed restriction on a portion of our property that would have prevented us from putting a septic system into that portion of the property. That offset would have allowed him to build a 4 bedroom house instead of a 3 bedroom house.
The eboard considered it, but given the relatively small amount he was willing to pay us, we felt it didn't make sense to encumber the property that way.
If your club does consider a conservation restriction, you'll need a really good real estate attorney who is familiar with firearms. You'll need to ensure that the restriction doesn't prevent you from building a new clubhouse, creating a new range, new roads, etc.