A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Agricultural product" includes, but is not limited to, livestock and crops.
(2) "Agricultural value" means the price as of the valuation date which a vendor willing, but not obligated to sell, would accept, and which a purchaser willing, but not obligated to buy, would pay for a farm unit with land comparable in quality and composition to the property being appraised, but located in the nearest location where profitable farming is feasible.
(3) "County governing body" means the board of county commissioners or, in a charter county, the county executive and the county council of a county.
(4) "Easement" means an agricultural land preservation easement held by the Maryland Agricultural Land Preservation Foundation, solely or jointly with any other entity or local government, and approved for purchase by the Board of Public Works prior to October 1, 2004.
(5) "Foundation" means the Maryland Agricultural Land Preservation Foundation.
(6) "Landowner" means the fee simple owner of the land that is subject to easement restrictions.
(7) "Profitable farming is feasible on the land" means that an agricultural product can be produced on the land that can be sold to realize an excess of return over expenditures, excluding the cost of constructing farm structures, the cost of acquisition of the land itself, and debt service relative to the financing of the acquisition of the land.
(8) Public Hearing.
(a) "Public hearing" means a meeting conducted by the Foundation to give the public the opportunity to express its views on a landowner's application to terminate an easement.
(b) "Public hearing" does not mean a contested case hearing, as defined by the Administrative Procedure Act.