Grant opportunity · Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO)

Next Generation Farmland Acquisition Program (Next Gen)

Award amount varies

About this opportunity

The Next Generation Farmland Acquisition Program (Next Gen) helps qualified beginning and first-time farmers purchase farmland in Maryland. MARBIDCO serves as a conduit financing agent, paying up to 51% of the Fair Market Value of the land only (capped at $500,000) by purchasing a farmland conservation easement option on the property, functioning as down payment assistance for farmland acquisition. The farmer then has several years to sell a permanent easement to a rural land preservation program, after which they repay MARBIDCO the original option purchase amount plus a 3% administrative fee. If no permanent easement is obtained within seven years, MARBIDCO places a permanent easement on the property. The program requires collaboration with a commercial bank or Farm Credit Association …

Who may apply

individual, for-profit

Deadline

See program details

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