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COMMITMENTS AND CONTINGENCIES (Tables)
3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating Lease 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, FL549$230 Q3 2022$148 
Hillsborough, FL552,250 
(2)
Q4 2022$1,552 
Charlotte, FL9753,000 
(2)
Q4 20221,318 
Manatee, FL590280 Q4 2022266 
Manatee, FL271280 Q4 2022280 
Napa, CA2701,548 
(2)
Q3 20231,019 
Umatilla, OR1352,750 
(2)
Q4 2023332 
Columbia, OR1571,800 
(2)
Q3 20241,146 
Holt, NE1,052180 Q1 2025— 
Collier & Hendry, FL3,6122,000 
(2)
Q2 2025— 
Wicomico & Caroline, MD, and Sussex, DE833115 Q3 203049 
Madera, CA212755 
(2)
Q4 2031636 
(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.
Future Lease Payments 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 31:202392 
202492 
202562 
202662 
202762 
Thereafter693 
Total undiscounted lease payments1,103 
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.