Lexington KY Purchase of Development Rights Program protects 20,000 acres
Posted by: Malok in Lexington KY Real Estate
The Lexington Kentucky newspaper, The Lexington Herald-Leader wrote an interesting article today.
The Lexington KY Purchase of Development Rights (“PDR”) Program, now protects 20,000 acres from development. They reached this milestone when the owners of Richland Farm located on Richmond Road, sold their rights for development to the organization for 284 acres of their farm. The owners also donated an additional 53 acres. A sign now marks the farm that says “PDR Protected Farm Lexington Fayette Urban County Government”.
The PDR program came into existence 7 years ago to preserve farmland and was established by the Urban City Council – and everything that goes with it (tourism, food sources, horse industries, etc), from development.
The average price spent per acre for the program has been approximately $2500. 174 farms are now in the PDR program. 49 more have requested inclusion.
The original goal for the program when it was established was to preserve 50,000 acre by the year 2020. They have now reached approximately 40% of their goal in 7 years.
Many horse farms feel that it is a good way to ensure that the main attraction for Lexington Kentucky remains its horse farms, and to protect it from becoming another strip mall, or tract housing, or other type of development.
