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Tracey Farm For Sale

Background and Information

We are selling the 192-acre Tracey Farm in New Haven and Waltham, Vermont as part of our Farmland Access Program. The Tracey Farm was conserved in 2005.

We are looking for a qualified farm buyer to purchase and operate the property. Once a buyer is selected, a final closing date will be negotiated. We anticipate closing in the summer of 2014, but we are agreeable to a short-term lease, if needed, to enable a buyer to have access to the property while the final stages of a sale are completed.

 

Property Description

The 192-acre farm is located on both sides of Hallock Road in New Haven and Waltham and includes 165 acres of organically managed cropland and pasture.

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View the embedded image gallery online at:
http://www.vlt.org/initiatives/tracey#sigProGalleria12e78294c2

The farm has 140 acres of prime and statewide agricultural soils, including a mix of sandy, silt, and clay loams suitable for a variety of cropping options.

The farm includes the following buildings:

  • 24’ x 152’ pole barn with adjacent concrete pad
  • 180’ x 46’ freestall barn with adjacent 60’ x 50’ concrete pad
  • 105’ x 55’ dairy barn with attached milkhouse and manure handling facility
  • Two bunk silos, 40’ x 100’ each
  • 36’ x 30’ shed

 

Conservation Restrictions and Conditions

The farm will be sold subject to a perpetual farmland conservation easement that 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 farm to a non-farmer. This provision is added to the easement to ensure the long-term affordability of the property to future farm owner-operators.

Ten acres surrounding the barns are excluded from the conservation area and may be subdivided from the remaining 182 acres. A house, septic system, and additional barns may be constructed within these 10 acres. Other agricultural and forestry-related structures may be built elsewhere on the property with prior written approval of VLT.

 

Price of the Farm

The 192-acre farm will be sold at its current appraised value of $330,000.

 

Open Houses

VLT is hosting an “open house” at the farm to allow potential buyers to see the property. The open house will be held on May 29, 2014 from 10 a.m. to 3 p.m. Please This email address is being protected from spambots. You need JavaScript enabled to view it. or call him at (802) 533-7705 if interested in attending. Please follow the signs for parking and information.

 

Selection Process

VLT will select a proposal from a buyer who best fits the following criteria:

  • Price: (a) willingness of the buyer to meet our asking price; and (b) ability to pay cash at closing and/or proof that all necessary purchase financing has been, or can be, secured.
  • Farm Enterprise: The farming enterprise described in the buyer’s proposal is: (a) well suited to the size, soils, and configuration of the farm; (b) well adapted to local markets for farm products and will contribute to the local farm economy; (c) likely to encourage long-term commercial use of the farmland; and (d) economically feasible.
  • Farming Experience: Demonstrated farming experience and training that relates to the proposed farm operation.
  • Food & Fiber: Priority will be given to those proposals where food or fiber for human use is produced.

VLT is often presented with several good proposals, so this is a competitive process. Reaching a final decision on the farm buyer involves several steps.

A decision-making team consisting of VLT staff members will reach a consensus on the top-tier proposals, followed by in-person interviews and reference checks for these top-tier applicants.

VLT will then consult an independent advisory committee to make a final decision. Upon completion of this process a final buyer will be selected.

 

Requirements of Proposal

If you are interested in making an offer, we will need the following by June 23, 2014:

  1. The amount of your offer and any conditions. This is not a binding offer, rather an indication of what you would be willing to pay, when you would be able to close on the purchase, and what you might condition your offer on should you be selected as the buyer of the property (e.g. the sale of your home, financing, etc.).
  2. Documentation that you can finance the purchase price. This can be a farm-business balance sheet; a statement of your assets/net worth; or it can be any combination of such materials that will assure us that you have the financial resources to complete the purchase. If you are selected as a finalist you will need to secure a letter from a bank approving financing at that time.
  3. Preliminary land-use plan for the farm. This would include a broad overview of the near- and long-term use of the land. Please indicate any changes and improvements to the property you envision and how you would finance these improvements; be sure to provide documentation for this financing.
  4. A 3-year income and expense projection of your proposed farm operation.
  5. Your qualifications that indicate that you can successfully execute your business plan. Strong agricultural references would be very helpful.
  6. Any other information that you think is important for us to consider. This may include an analysis of local agricultural markets, a SWOT analysis, or press regarding past agricultural operations.

Please send your offer and related materials to: Jon Ramsay, Vermont Land Trust, 8 Bailey Ave., Montpelier, VT 05602. To request additional materials, This email address is being protected from spambots. You need JavaScript enabled to view it. or call him at (802) 533-7705.

If you have any further questions about the farm resource and process, or if you cannot make this deadline, but are interested in the farm, contact us anyway; we will keep you informed of the progress of the farm sale.

We look forward to hearing from you.
 

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