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Matching retiring farmers with next the next generation
We ask you to keep your comments relevant and respectful. Visit our community guidelines for more information. Garry Marr. Filed under Personal Finance Retirement. Chance of cut just went up. As is the case for many senior farmers, much of their retirement funds were tied up in the real estate value of their farmland.
The Bulsons wanted to sell the farm right to Zack and Annie. Upon hearing their situation, ASA recommended the Bulsons and Metzgers consider selling the development rights to the farmland, protecting it from real estate development into perpetuity. This would provide the Bulsons with retirement funds and allow them to sell their farm to the Metzgers at its more affordable restricted agricultural value.
And the bonus of that, is it actually made the farm purchase possible for us. Now everyone was on board, but the clock was ticking. The landowners had farmed there for many years, and were ready to move on. Because the state Farmland Protection Program was just recovering from a six-year funding freeze triggered by the Great Recession, ASA and other land trusts and local governments across the state were working hard to close farmland conservation deals on farms caught in the resulting project backlog.