Farm for Sale in Williamstown
We are selling Storrs Farm in Williamstown through our Farmland Access Program. Farmers who are interested in operating a commercial farm business on the land are encouraged to attend an open house and submit a proposal.
The owners of the Storrs farm are looking for a buyer for the spring or summer of 2018. Once a buyer is selected, a closing date will be set based on the needs of the buyers and sellers. Adequate timing for a buyer to secure financing is expected.
The Storrs Farm is a former dairy farm located on South Hill Road in Williamstown, approximately 25 minutes from Montpelier. The property consists of 255 acres with 110 tillable acres, 30 acres of pasture, and a 30-acre mature sugarbush. Soils are varied but mostly well drained except a few low lying areas. Prime and statewide soils include Vershire-Glover and Buckland loams. The land is currently certified organic and used for hay production. The farm includes a single family home built in 1997 with 2,100 square feet of living space. The house is in very good condition with no structural or functional issues. There are four bedrooms and an attached garage. There is a 40’ x 33’ equipment barn and a 20.5’ x 33.5’ shed, currently used for sugar-making. The older tie stall dairy barn is being demolished.
Purchase Price of the Farm
The price of the farm is $395,000. The current appraised value subject to the conservation easement is $399,000.
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 conservation easements will include the 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 helps ensure the long-term affordability of the property to future farmers. Additional farm labor housing may be constructed with prior approval..
We are hosting two open houses at the farm for potential buyers to see the property: Wednesday, October 11 and Saturday, October 28 from 10:00 am to 2:00 pm.
We strongly recommend attendance at an open house, since there is limited availability to see the farm outside of these dates. Interested parties are asked to email or call Jon Ramsay if planning to attend. His phone number is (802) 533-7705.
VLT will select a proposal from a buyer who best fits the following criteria:
- Price: (a) willingness of the farmer to meet the asking price; and (b) ability to secure financing at closing (formal financing approval is not necessary to submit a proposal).
- Farm Enterprise: The farming enterprise described in the farmer’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 farmer involves several steps. A decision-making team consisting of VLT staff members and an advisory committee will reach consensus on the top-tier proposals followed by inperson interviews and reference checks.
Requirements of Proposal
If you are interested in submitting a proposal, we will need the following by November 17, 2017:
- Any conditions on a lease or purchase. This is not binding, rather an indication of what you would be willing to pay and under what terms, 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.).
- Documentation that you can finance the purchase price and pay the required rent. This can be a projection on cash flow; 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 or pay the rent. If you are selected as a finalist, you will need to secure a letter from a bank approving financing at that time or provide first month’s rent and a security deposit.
- 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.
- A 3-year income and expense projection of your proposed farm operation.
- Your qualifications should indicate that you can successfully execute your business plan. Strong agricultural references are very helpful.
- Any other information that you think is important for us to consider. This may include an analysis of markets to sell products, 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, or if you have further questions, call Jon at (802) 533-7705 or send him an email. If you cannot make this deadline but are interested in the farm, please contact us anyway; we will keep you informed.