1. Municipalities may develop agricultural and farmland protection plans, in cooperation with cooperative extension and other organizations, including local farmers. These plans shall include, but not be limited to:

1. (a) the location of any land or areas proposed to be protected;

2. (b) an analysis of the following factors concerning any areas and lands proposed to be protected:

   1. (i) value to the agricultural economy of the municipality;
   2. (ii) open space value;
   3. (iii) consequences of possible conversion; and
   4. (iv) level of conversion pressure on the lands or areas proposed to be protected; and
3. (c) a description of activities, programs and strategies, including efforts to support the successful transfer of agricultural land from existing owners to new owners and operators, especially new and beginning farmers, intended to be used by the municipality to promote continued agricultural use, which may include but not be limited to revisions to the municipality's comprehensive plan pursuant to section two hundred seventy-two-a of the town law or section 7-722 of the village law as appropriate.