November 27, 2023 / Education, Program / Keli Kirby

Partnership: Small Acreage Next Generation Program

SMADC, in partnership with MARBIDCO, provides enhanced and new financing opportunities to Southern Maryland farmers by providing funds for MARBIDCO programs.

 

What is the Small Acreage Next Generation Program?

The Small Acreage Next Generation Program, also known as ‘SANG’, is available to help qualified young or beginning farmers who have trouble entering the agricultural profession, because of relatively high farmland costs and lack of access to adequate financial capital, to purchase smaller farmland properties that are between 10 to 49 acres.

The Small Acreage Next Gen Program is essentially a fast-moving farmland conservation easement option purchase program that is designed to help facilitate the transfer of farmland to a new generation of farmers, and help preserve the small acreage agricultural land from future development. Using the SANG Program, MARBIDCO is able to provide 40% to 60% of the Fair Market Value (FMV) (land only) in exchange for a permanent agricultural conservation easement, and that money is used as a down-payment to purchase the farmland.

In the original Next Gen Program, the subject farm properties typically needed to be at least 50 acres in size (or contiguous to preserved property), thus limiting these young and beginning farmers from being able to use Next Gen Program resources to purchase small farms. This program is designed to fill that gap. It also requires that applicants own no more then 9 acres when they apply.

Go To: SMADC

For More Information Go To: SANG

PDF Version: PDF