Common Contracts
1 similar Farmland Development Rights Agreement contracts
FARMLAND DEV'T RIGHTS AGREEMENTFarmland Development Rights Agreement • December 4th, 2001
The Natural Resources and Environmental Protection Act (NREPA) gives the State several ways to preserve agricultural property. Under Part 361 of the Act, the State and a land owner may enter into a farmland development rights agreement (FDRA), which entitles the owner to a tax credit in exchange for keeping the land in agricultural production for the term of the agreement. Part 361 also authorizes the State to purchase the development rights of farmland. In addition, under Part 362, eligible local units of government may purchase agricultural conservation easements. In either case involving a purchase, the land owner permanently relinquishes the right to develop the land for nonagricultural purposes.
