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COMMITMENTS AND CONTINGENCIES | 3 Months Ended
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Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Operating Obligations In connection with the execution of certain lease agreements, we have committed to provide capital improvements on certain of our farms, which are summarized in the table below (dollars in thousands):
Farm Location(s) |  | Farm Acreage |  | Total Commitment |  | Obligated Completion Date(1) |  | Amount Expended or Accrued as of March 31, 2022
St. Lucie, FL |  | 549 |  | $ | 230 |  |  | Q3 2022 |  | $ | 148 |
Hillsborough, FL |  | 55 |  | 2,250 |  | (2) | Q4 2022 |  | $ | 1,552 |
Charlotte, FL |  | 975 |  | 3,000 |  | (2) | Q4 2022 |  | 1,318 |
Manatee, FL |  | 590 |  | 280 |  |  | Q4 2022 |  | 266 |
Manatee, FL |  | 271 |  | 280 |  |  | Q4 2022 |  | 280 |
Napa, CA |  | 270 |  | 1,548 |  | (2) | Q3 2023 |  | 1,019 |
Umatilla, OR |  | 135 |  | 2,750 |  | (2) | Q4 2023 |  | 332 |
Columbia, OR |  | 157 |  | 1,800 |  | (2) | Q3 2024 |  | 1,146 |
Holt, NE |  | 1,052 |  | 180 |  |  | Q1 2025 |  | — |
Collier & Hendry, FL |  | 3,612 |  | 2,000 |  | (2) | Q2 2025 |  | — |
Wicomico & Caroline, MD, and Sussex, DE |  | 833 |  | 115 |  |  | Q3 2030 |  | 49 |
Madera, CA |  | 212 |  | 755 |  | (2) | Q4 2031 |  | 636 |
(1)Our obligation to provide capital to fund these improvements does not extend beyond these respective dates. (2)Pursuant to contractual agreements, we will earn additional rent on the cost of these capital improvements as the funds are disbursed by us. Ground Lease Obligations In connection with certain farms acquired through a leasehold interest, we assumed certain ground lease arrangements under which we are the lessee. Future minimum lease payments due under the remaining non-cancelable terms of these leases as of March 31, 2022, is as follows (dollars in thousands):
Period |  | Future Lease Payments(1)
For the remaining nine months ending December 31: | 2022 |  | $ | 40 |  |  |
For the fiscal years ending December 31: | 2023 |  | 92 |  |  |
| 2024 |  | 92 |  |  |
| 2025 |  | 62 |  |  |
| 2026 |  | 62 |  |  |
| 2027 |  | 62 |  |  |
| Thereafter |  | 693 |  |  |
Total undiscounted lease payments | 1,103 |  |  |
Less: imputed interest | (479) |  |  |
Present value of lease payments | $ | 624 |  |  |
(1)Certain annual lease payments are set at the beginning of each year to then-current market rates (as determined by the lessor). The amounts shown above represent estimated amounts based on the lease rates currently in place. As a result of these ground leases, we recorded lease expense (included within Property operating expenses on the accompanying Condensed Consolidated Statement of Operations and Comprehensive Income) of approximately $23,000 and $14,000 during the three months ended March 31, 2022 and 2021, respectively. Litigation In the ordinary course of business, we may be involved in legal proceedings from time to time. We are not currently subject to any material known or threatened litigation.

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