Farmland Preservation allows the state to purchase agricultural conservation easements in order to ensure that lands currently in agricultural use will continue to remain available for agriculture and will not be converted to other uses.
PACE - Purchase Of Agricultural Conservation Easements
The Kentucky General Assembly in 1994 established the Purchase of Agricultural Conservation Easement Corporation and authorized the state to purchase agricultural conservation easements in order to ensure that lands currently in agricultural use will continue to remain available for agriculture and not be converted to other uses. Although PACE was established to purchase conservation easements, landowners also are encouraged to donate easements in order to dedicate their land to agricultural uses. Donors of conservation easements may receive federal and state income tax and estate tax benefits.
The PACE Corporation has purchased agricultural conservation easements on 108 farms totaling 25,280.79 acres. The easement costs have averaged $854 per acre. The farm size has averaged 234 acres. In addition, 61 easements on 8,499.75 acres have been donated to the program, bringing the total inventory to 170 farms containing 33,780.55 acres. Since the inception of the program, the Department has received 816 applications from 75 counties statewide totaling over 160,000 acres. A total of 667 applications are currently pending for a total of over 129,000 acres with an estimated easement value of over $100 million.
If you are interested in donating your land into the PACE Program, please complete the application form to be considered at the bimonthly meetings. Applicants should anticipate out-of-pocket expenses for a title search, a survey, and appraisal work for the property they wish to donate into the program. (Click on Forms to the right to download the PACE Program Application)