1. Land: An Overview

1. 1. Land: An Overview • In this module, we will discuss: • Amount of land in the U.S. • Four different types of land—agricultural, rural, urban, and transitional • Site-selection characteristics that must be taken into consideration

2. Land—How Much Is There?

3. Units of Measurement • Acre: A measure of land equal to 160 square rods (43,560 square feet) in any shape. • Acre-foot: Unit of volume used to measure water and the capacity of reservoirs. One acre-foot is a volume one foot deep covering an area of one acre. • Cubic measure: A system of measuring volume or space by using cubic units. One cubic inch is 1 inch long by 1 inch wide by 1 inch high. A cubic foot is 1,728 cubic inches. A cubic yard is 27 cubic feet. • Hectare: The customary metric unit of land area, equal to 2.471 acres. • Rod: Traditional unit of measurement equal to 5.5 yards (16.5 feet).

4. Types of Land 1. Agricultural land 2. Rural land 3. Urban land 4. Transitional land

5. Agricultural Land • Produces income from the land in some manner • Crops • Pastureland and ranches • Timber and forests • Cropland, grassland, and forestland combined cover more than 50% of the area of the U.S.

6. Five “Program” Crops 1. Wheat - Farms that harvest wheat are largest 2. Cotton - Capital intensive 3. Corn - Used in starch, sweeteners, and fuel 4. Soybeans - Grown in rotation with corn 5. Rice - Small but important crop for many regions

7. Productivity Measures

8. Ranch and Pastureland • Raise livestock for breeding • Produce meats, hides, furs • Animals raised for meat accounted for 26% of cash receipts from U.S. farming in 2005. • Productivity based on animal carrying capacity. Animal carrying capacity is rated on animal-unit-months (AUM).

9. Environmental Pollution • Runoff from agricultural operations adds to nutrient loading in rivers and streams and causes hypoxia (oxygen deprivation). • Permits required for concentrated animal feeding operation (CAFO or AFO)

10. Farm Service Agency (FSA) • Grew out of Depression Era government actions to provide relief for farmers • Today, is one of the 17 agencies that comprise the U.S. Department of Agriculture (USDA) • Oversight of the FSA is conducted at a county level.

11. FSA Activities • Price supports—Direct and counter-cyclical payments • Marketing loan programs—short-term financing • Commodity operations—acquisition, storage, and disposition of crops forfeited • Conservation programs—Incentive payments and cost sharing • Biofuel production—research and production of biofuels

12. 11 States Receive More Than Half of Federal Payments 1. Arkansas 2. California 3. Georgia 4. Illinois 5. Iowa 6. Nebraska 7. Minnesota 8. Kansas 9. Mississippi 10. Missouri 11. Texas

13. Trends in Agricultural Land • Globalization • Steady decline for crops and grazing • Graying of rural America • Rising land prices and rents • Biofuels • Off-farm income • Lifestyle farms

14. Timber Facts • There are 747 million acres of forestland in the U.S. • More than 90% of single-family homes built in 2000 used wood framing. • Paper companies are selling their timberland to financial investors. Timber is considered a stable investment. • Timber values can range from few hundred $ per acre to several thousand $ per acre. Source: American Forest and Paper Industry and Clemson University. U.S. Forests Facts and Figures, 2001. Available at: http://www.afandpa.org.

15. Timberland Ownership

16. Rural Land • Similar to agricultural land in that the area is not densely populated • Located away from cities and population centers • Two types of rural land: • Undeveloped rural land • National Wildlife Refuge system • National Park System 2. Developed rural land

17. Rural Land Development Rural land development can take many forms: • Economic • Infrastructure • Special needs • Natural resource enhancement

18. Rural Land Development (cont.) • Only 15% of rural workers work full time in farming. • Many farms depend on off-farm income. • Development of large lot homes and lifestyle farms retires production agricultural land .

19. Urban Land • Land within populated areas • Urban land houses 70% of the nation’s population, but uses less than 3% of the land. • Rate of urban land usage is growing at roughly double that of the population.

20. Urban Land Development Three types: 1. Commercial 2. Residential 3. Mixed use

21. Industrial • Site selection factors: • Size • Configuration • Parking • Expansion • Price • Access • Visibility • Rail • Other transportation • Distance to customers and to employees

22. Retail • Site selection factors: • Corner vs. inline • Level of service on street • Traffic light • Demographics • Side of the street • Parking • Drainage • Utilities • Build to suit

23. Office • Site selection factors: • Image • Size of site • Parking • Expansion plans • Floor area ratio • Proximity to hotels, restaurants and retail • Shell and tenant finish costs • Relocation • Timing for permits • Fiber optics availability • Build to suit

24. Hospitality • Site selection factors: • Size • Dimensions • Zoning • Liquor license • Visibility • Signage allowances • Access • Proximity to retail and other hospitality sites

25. Institutional • Sites include: • Schools • Hospitals • Fire stations • Other facilities Site criteria developed by demographics and projections of growth.

26. Self-Storage • Site selection factors: • Require 1.5 to 4 acres • Finished outside perimeter walls, lighting • 3- to 4-story product • Typical unit is 10’ x 10' • Rents need to be in the $1+/SF/month for high-rise to work • Conversion of older retail, obsolete industrial buildings

27. Senior Living • Property types include: • Assisted living • Continuing care facilities • Active-adult communities

28. Residential Land • Single-family subdivisions • Multi-family sites • New subdivisions created on formerly rural and agricultural land • Downtown resurgence and revitalization • Analysis of supply and demand • Subdividing urban land

29. Mixed-Use Development • One of the hottest trends in land use • Combine retail-dining-entertainment complex with residential, commercial, and office space into a planned area

30. One Boulder Place Source: Reprinted with permission from DTJ DESIGN. Courtesy of DTJ DESIGN, Boulder, Colorado.

31. Sketch Plan for Big Valley, Idaho Source: Reprinted with permission from David A. Clinger & Assoc. Ltd., Golden, CO.

32. Challenges for Mixed-Use Developers • Location must in area for targeted buyers and businesses • Environment must work equally for each type of land use • Community buy-in • Mechanicals • Separation of residential and commercial/office/retail space • Security features

33. Transitional Land • Types include: • Agricultural to commercial • Urban development to buildings being torn down • Agricultural to recreational

34. Highest and Best Use Use among all legally permissible and practically probable uses that will result in the highest land value Physical factors: • Accessibility • Location • Size and shape • Topography and soil • Environmental concerns • Transportation • Utilities

35. Highest and Best Use (cont.) • Government and legal factors: • Zoning requirements • Deed restrictions • Codes and ordinances • Title policy