Wednesday, May 22, 2013

Farm Properties



Should Public Entities Be Farm Landlords/Speculators?
Published 5/24/13

As of 1/1/12 the City of Wilmington’s, Community Improvement Corporation, (CIC) owned ten parcels of land totaling 170 acres with an estimated value of $1million. This land, located in the city is cash rented to local farmers. The most recent purchase, a 21acre parcel on SR 134, was made in 2011. Neither the purchase price or reason for the purchase is not known because this entity does not announce meeting times and so far this year has not released the required financial report. The cash rent terms are also unknown.

Clinton County via the Board of Commissioners owns 127 acres of farmland with an estimated value of over $300,000 on SR 68 North.
This land is also known as the “Children’s Home” land. The cash rent agreement is public information and is periodically reopened for new bids.

The Clinton County Port Authority, in addition to its DHL donation, own three farm parcels totaling 195 acres with an estimated value of $1.8 million. The land is in biddable cash rent and the terms are public information.


Paul Hunter

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