§ 2B-9. Purchase and value of agricultural easements.

(a) The Fund is a special, non-lapsing revolving fund for agricultural land preservation purposes. It consists of:

(1) the County’s share of the State agricultural transfer tax;

(2) payments received by the County for the repurchase, release, reimbursement, and termination of an agricultural easement; and

(3) any other funds available to buy agricultural easements under this Article.

(b) The County must use funds from the County’s share of the State agricultural transfer tax and any other revolving funds for the purposes of this Article before using any other County funds for these purposes.

(c) The County may buy an agricultural easement to preserve agricultural land in the County. To buy an easement, the County may use:

(1) negotiations;

(2) competitive bidding; or

(3) any other method that is fair and equitable to the landowner and the County.

(d) The purchase price may be based on an appraisal or any other evidence of value under criteria in applicable regulations.

(e) Priority for buying easements must be given to any applicant who meets all of the following criteria:

(1) the proposed purchase price for the agricultural easement does not exceed either the appraised fair market value of the easement or a commercially reasonable value for the easement;

(2) the land is designated in the applicable master plan as agricultural;

(3) the land borders a municipality or other developing area and is likely to be developed in the foreseeable future; and

(4) any other factor the Executive finds necessary to preserve agricultural land.

(f) The County Executive or the Executive’s designee may agree in writing to buy an agricultural easement if the landowner:

(1) files a good-faith application to the Foundation for the purchase of an agricultural easement by the State; and

(2) accepts a Foundation offer if the price offered by the Foundation is equal to or higher than the price the County offered. If the Foundation does not agree to buy an easement subject to a conditional agreement under this subsection, the County must buy the easement at the price the County offered under the conditional agreement.

(g) In addition to its authority to buy agricultural easements under this Article, the County may accept the donation of an agricultural easement or another interest in property for agricultural land preservation purposes. (, § 1.)