Oregon Option to Purchase Farm Land to be Developed for Industrial or Commercial Purposes is a legal framework that allows interested parties to acquire agricultural land with the intention of converting it into industrial or commercial properties. This option is applicable in the state of Oregon, and it provides individuals or organizations with the opportunity to purchase farmland for development purposes. In Oregon, there are primarily two types of options available for purchasing farm land for industrial or commercial use: 1. Agricultural Lands Zoning Conversion Option: This type of option enables buyers to acquire agricultural land zoned for farming activities and convert it into industrial or commercial properties. The conversion may involve rezoning the land, obtaining necessary permits, and undertaking any required development activities. 2. Agricultural Land Reserve Conversion Option: In certain cases, lands designated as Agricultural Land Reserve (ALR) can be converted for non-agricultural purposes through this option. The conversion process typically involves demonstrating the land's unsuitability for agricultural activities and complying with specific criteria set by the local authorities. When considering an Oregon Option to Purchase Farm Land for industrial or commercial development, it is essential to understand the following steps involved: 1. Research: Identify the specific zoning or reserve category the desired land falls under and ensure it is suitable for the intended industrial or commercial purpose. 2. Due Diligence: Conduct a comprehensive investigation regarding the property's history, ownership, any existing obligations, and restrictions associated with the land. This includes reviewing any environmental concerns, water rights, and zoning regulations. 3. Engaging with Local Authorities: Seek guidance from local planning departments, zoning commissions, or regulatory bodies to understand the legal processes and requirements for converting farmland into industrial or commercial properties. 4. Financial Evaluation: Assess the financial viability of the project, including costs associated with acquiring the land, development expenses, permitting, infrastructure development, and potential return on investment. 5. Negotiation and Option Agreement: Engage in negotiations with the landowner to reach an agreement on the purchase terms and conditions. Prepare and sign an option agreement detailing the agreed-upon price, timeline, rights and obligations of both parties involved. 6. Conversion Process: Initiate the necessary procedures to rezone or convert the agricultural land to the desired industrial or commercial use. This may involve attending public hearings, liaising with local authorities, and fulfilling any specific requirements. 7. Development and Construction: After obtaining the necessary approvals and permits, begin the development process, including construction, infrastructure establishment, and site preparation. It is crucial to consult with real estate professionals, legal advisors, and relevant experts throughout the process to ensure compliance with local laws, regulations, and sustainable development practices. Conducting thorough research, due diligence, and financial analysis will assist in making informed decisions regarding the Oregon Option to Purchase Farm Land for industrial or commercial development.
Oregon Option to Purchase Farm Land to be Developed for Industrial or Commercial Purposes
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Not only is farmland a good investment in an inflationary environment farmland also provides robust average annual returns. Between 1992 and 2020, farmland provided average annual returns of nearly 11%, including income and price appreciation.
Many rural properties are eligible for special assessment or deferral of some or all of their property if it is "used for a qualifying farm use." The purpose of this program is to provide a financial incentive to property owners, in the form of reduced property values, for keeping their land in agricultural production.
If current development trends continue, 1.3 million acres of California agricultural land, including 670,000 acres of prime, unique and statewide important farmland, will be developed by 2050.
State law requires that for farmers to qualify, they have to gross $100 an acre. If they farm less than 6.5 acres, they must earn $650 in grossnot netincome in three out of every five years. That threshold has not changed in decades and would be more than $3,500 today if adjusted for inflation.
10% of the world's arable acres lie within the United States. Agriculture contributes $992 billion to the American economy each year. 31 million acres of farmland lost to development, in total, between 1992 and 2012. That's 175 acres per hour of agricultural land lost to development 3 acres per minute.
The purpose of the EFU (exclusive farm use) zone is to provide areas for continued practice of commercial agriculture. It is intended to be applied in those areas composed of tracts that are predominantly high-value farm soils as defined in OAR 660-033-0020(8).
CLACKAMAS COUNTY ZONING AND DEVELOPMENT ORDINANCE. EXCLUSIVE FARM USE DISTRICT (EFU) (7/1/04) PURPOSE A. To preserve agricultural use of agricultural land. B. To protect agricultural lands from conflicting uses, high taxation and the cost of public facilities unnecessary for agriculture.
For planning purposes the zoning ordinance as it pertains to EFU, generally allows for only one single family dwelling unit, buildings accessory to a dwelling, and permitted agricultural buildings for animals and equipment as necessary to operate a farm.
Dwellings on Farm and Forest Lands In EFU zones, dwellings are allowed in seven different circumstances, including primary farm dwellings, accessory farm dwellings, relative farm help dwellings, non-farm dwellings, lot-of- record dwellings, replacement dwellings and temporary hardship dwellings.
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2nd class: commercial premises in which all commercial tenants have the right to reside; 3rd class: residential premises in which all residential tenants have the right to reside, except In one-family residences, where only agricultural tenants have the right to reside. Based documents: 2nd class — A statement of the residential district number of the property being registered, including: (1) Land district number, (2) Type, (3) name of owner, (4) occupation, (5) street number, (6) street name, (7) post district number, (8) number of stories, (9) number of rooms, (10) total floor area, (11) number and type of rooms, and (12) type of building, and (13) type of occupancy of the residential dwelling.