Winding River Farm

Weyers Cave,Virginia

In Augusta County, Virginia, a plan to transition a 183-acre dairy to a young farmer was developed by working with a variety of partners including Farm Credit of the Virginias, Virginia Cooperative Extension and Farm Services Agency. The complex process involved the preparation of business plans and cash flow projections; a bargain sale; a lease-purchase agreement; pre-sale of specified on-farm dairy and poultry infrastructure and equipment; and an option to purchase an agricultural conservation easement.

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1. ❖   Farm Transition and Succession
   

A primary challenge in agricultural communities is the speculative pressure that often makes rural lands unaffordable for entering ranchers and farmers. With little or no equity, young people do not qualify for sufficient credit to begin farming. A ranch or farm is usually the retirement account for the senior generation, creating another challenge in transition of the business and property.

In addition to direct family consultation, Ag Prospects offers workshops for providers and land owners, calling upon leading professionals in the fields of farm transition, banking, finance and estate and succession planning.

Shenandoah Valley Farm Transition Demonstration Project, “Holding Ground: A Guide to Northeast Farmland Tenure and Stewardship.” The New England Small Farm Institute. 2004.