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45 <br /> QUESTIONS FREQUENTLY ASKED ABOUT A PURCHASE OF <br /> DEVELOPMENT RIGHTS PROGRAM: <br /> Why a Purchase of Development Rights Program? <br /> A purchase of development rights program gives farmers a timely, financia y <br /> ll competitive alternative to selling their land <br /> for development.The compensation paid to landowners for relinquishing their development rights can enable them to expand <br /> their farming operations, pay off debts, distribute their assets equitably among children, and/or provide for a comfortable <br /> retirement while retaining title and all other rights to their land. <br /> What are development rights? <br /> The right to build structures on the land constitutes the "development rights" attached to a parcel of land. The extent or <br /> amount of such rights is limited by restrictions embodied in health, building, and zoning codes. <br /> How is the value of development rights determined? <br /> The cost of development rights is usually figured on a per acre basis as follows: <br /> Market Value - Agricultural Value = Development Rights Value <br /> Both market value and agricultural use value are determined by an appraisal of the property. <br /> How would a Purchase of Development Rights (PDR) Program operate? <br /> Six basic steps are proposed for the PDR Program and are summarized in the following table. <br /> PURCHASE OF DEVELOPMENT RIGHT'S PROGRAM PROCEDURES <br /> STEP 1 <br /> ��ac�s�o�t.ol�Ar�l✓�c.Am�oly. ;: .. .. . . <br /> ( owner ha 64 Clays from pub�c asetce date,to submit applieatiort) <br /> .................................................................................................................................................................................................. <br /> STEP 2 <br /> (R ing by:AgE Districts Advisory Board using LESA system/recommended > <br /> p c sent to Hoard of ommtsst etrs):. <br /> STEP 3 <br /> (Acquisition Approved by Board of Commissioners/appraisals conducted to establisk <br /> rkete values <br /> STEP 4 <br /> (Appraisals sent to land owner/3D clays for owner to submit offer':to sell] <br /> STEP 5 ? <br /> ACC�FTAI�Cir Oil' O1Nr>.R <br /> (Hoard a C nnmFSsionei accepts offer fo sell/authorizes closing) <br /> STEP 6 <br /> (T tle work cond�rcted/closuig heldldeuelopme t ights:conveyed) <br />