Next Generation Farmland Acquisition Program (Next Gen) (Next Gen)

The Next Generation Farmland Acquisition Program (Next Gen) helps qualified young or beginning farmers who face challenges entering agriculture due to high farmland costs and limited access to capital. It is a farmland conservation easement purchase program designed to facilitate the transfer of farmland, typically over 50 acres, to a new generation of farmers while permanently preserving the land. Under the program, MARBIDCO pays up to 51% of the fair market value (FMV) of the land only, with a cap of $500,000.

There is no age restriction, but beginning farmers are more likely to be selected. A beginning farmer owns no farm or less than 9 acres, has not operated as principal for more than 10 years, has at least one year of farming experience, and expects to participate substantially in the operation. The subject farm is typically over 50 acres. A commercial bank or Farm Credit Association must provide a portion of the purchase financing (a firm loan commitment is not required until Next Gen approval).

MARBIDCO pays up to 51% of the fair market value of the land only, capped at $500,000, as an option purchase that serves toward the farm acquisition. After the land sale, the Next Gen farmer has several years to sell the permanent easement to a rural land preservation program, extinguishing the property's development rights forever. Once the permanent easement is facilitated, the farmer repays MARBIDCO the original option purchase amount plus a 3% administrative fee. If the farmer cannot sell the permanent easement within the specified timeframe, the option is exercised (for no additional money) and the permanent easement is held by a third-party default easement holder (a county agricultural land program or a private land trust designated by MARBIDCO).

The application deadline (including all required forms and attachments) is monthly, with applications due by 4:00 p.m. on the last business day of each month at the MARBIDCO office in Annapolis. Interested applicants should contact the county agricultural preservation program office where the farmland is located at least one month before submission; required paperwork from farm-property sellers must reach the county office at least one month in advance. For information or to submit an application, contact Allison Roe, Financial Programs Officer/Program Coordinator, at (410) 267-6807 or aroe@marbidco.org.