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How about free?
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Posted by Indydirtfarmer on August 14, 2003 at 04:42:55 from (152.163.252.71):
Yesterday, I was approached by an attorney, representing an elderly woman that owns 40 acres near our farm. She is trying to keep her ag status intact. The ground was in crops for as long as I can remember.
What he is proposing, is for me to turn the acrage into a hayfield. The expence of getting it established would be split. They pay for seed, I furnish the labor and machinery. At that point, it is mine to bale. BUT. they want $1000 a year for the "rights" to the hay. The woman is 88 years old, and the whole thing is "out the window" when she passes away. The land will be sold by her heirs.
They want to fertilize, plow, disk, and seed. Based on the rates I charge for custom work, I would be in to the project for around $1200. Add $1000 for the "yearly rights" and it gets expensive. Then, factor in the possibility that this could be a one or two year deal. (Who knows, she might live forever)
Has anyone ever got into a "deal" like this. It sounds risky, but I have a good market for good hay. It is up to me as to what kind we plant. This is all being done so that she can maintain her ag status. With a phone call, I found out that this would save her about $4000 a year in property taxes alone. I think they should absorb more of the cost. (Maybe the fuel cost for prep, and planting?)
They have also made the offer to let me grow soybeans/corn on the ground for $100 an acre per year. The going rate in this area is as high as $115 per acre. I,m leaning toward this. They prefer the hay arraingment.
I'm undecided as to what I would like. Let's hear some thoughts.
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