This year the Economic Viability (EV) Program is thrilled to highlight our newly launched Farms and Forests in Transition Reimbursement Program (FFIT). The goal of this initiative is to support farm operations seeking professional services in transition, estate planning or succession planning. Eligible activities include but are not limited to the following elements:
- Professional legal services
- Estate planning
- Succession planning/Retirement planning
- Wills/Trusts
- Developing an LLC
- Developing a farm lease
- Farm transfer planning
- Professional accounting services
- Financial planning/analysis associated with the planned transition
- Tax implications of conservation easement
- Transaction costs associated to purchasing a farm and/or getting a conservation easement
FFIT rounds out the Watershed Agricultural Council’s previously launched Business Planning Reimbursement Program and Micro Grants Program. As the EV Program continues to grow and evolve to meet the needs of our farmers, we are proud to be
approaching their needs proactively. By providing funding for business plans we hope to better position our farmers and foresters for improved economic profitability and sustainability. Similar to that, our micro grants encourage the implementation of activities that can enhance the economic viability of farm and forest businesses in the NYC Watershed.
We are proud to have accomplished the next phase of the EV Program after years of development, as we help prepare for the transition to the next generation of land stewards in the NYC Watershed.
For more information visit: nycwatershed.org/economic-viability. Read more of the 2022 Annual Report here.
Program Stats:
- 325 Pure Catskills Members
- 10+ Watershed Events Attended/Sponsored
- 9 Micro Grants Approved Totaling $34,298
- Farms & Forests in Transition Reimbursement Program Launched – 1 Application Approved Totaling $5,000