VLT is seeking a farmer who will operate a commercial farm business and contribute to the agricultural community. The farm has been well-maintained and the land can be certified organic. The farm will be sold subject to a perpetual farmland conservation easement that will allow all types of agricultural uses and new agricultural structures. The easement will include an option to purchase at agricultural value. This option allows VLT to purchase the farm at its agricultural value should the buyer (or a future owner) attempt to sell the land to a non-farmer. This provision is added to the easement to ensure the long-term affordability of the property to future farmers.
The easement will allow the existing house and farm structures to be repaired or enlarged and new farm structures to be constructed. If needed for the viability of the farm operation, additional farm-labor housing may be constructed. There will be a designated “building envelope” of approximately five acres where farm and forestry structures may be built without prior approval of VLT. The final size and delineation of the complex will be configured to provide long-term utility to the farmer.
Purchase Price of the Farm
The purchase price is $401,000. This is the current appraised value subject to the conservation easement restrictions.
VLT plans to lease the farm to the buyer for approximately one year while the conservation process is completed. The buyer will have a written lease with VLT and a purchase and sales agreement to acquire the farm for $401,000. VLT asks a buyer to maintain all aspects of the farm and pay all utilities during the lease. Any other lease terms will be negotiated between the buyer and VLT.
Capital for Infrastructure Investment
A buyer may submit a proposal that includes a request to VLT for a loan of up to $50,000 for infrastructure improvements needed to start the proposed farm operation at Crow Hill Farm. VLT and the selected buyer will negotiate the final terms of the loan.
We are hosting two open houses at the farm to allow potential buyers to see the property. They will be on Saturday, March 4 and Thursday, March 9, from 10:00 am to 2:00 pm.
Please go to www.vlt.org/crowhillfarm for more information.