Over the next 10 years, nearly half of all current farmers and ranchers will retire. Because land is most vulnerable to development when it transitions to new ownership, it’s important to plan ahead for the future of the land. Planning comes with challenges and takes time, care, and resources.
Land trusts designed Buy, Protect, Sell or BPS as an approach to bridge the financial gaps between retiring and aspiring farmers and ranchers.
Using BPS, a land trust buys agricultural land, protects it with an agricultural conservation easement, and sells the land to a new farmer.
The easement removes development potential, which reduces the sale price of the property making it more affordable to an incoming farmer.
The retiring producer receives income from the sale of their property while gaining peace of mind that their land will remain in agriculture forever.
BPS ensures land will pass into the hands of a new farmer even if a retiring farmer did not have a succession plan.
At American Farmland Trust we add a plus+ to the end of BPS to acknowledge that our work is not done when a farmer moves onto a new property. The plus means we work with farmers to implement conservation practices that invest in soil health and viability of the land.
We also support farmers to navigate financing options, business planning resources, and other forms of technical assistance that will increase their likelihood of building successful businesses.
Through our Land Transfer Navigators partnership, we help farmers and ranchers plan for the future of their land.
Navigators are skilled staff and partners who provide overall guidance and connect retiring farmers and ranchers to critical succession planning resources and services throughout the country.
We would be happy to talk to you about working with American Farmland Trust on Buy, Protect, Sell+ projects.
