Northeast Farm Access - Growing Equity with Farmer and Financial Investors



		PROJECT PROFILE Wyda Farm Hudson Valley, New York Our Story Wyda Fam LLC is undertaking an innovative plan that will provide farmers with secure land access, connect the public to woodland walking trails, and act as a hub for local food enthusiasts. After three generations as a working farm, this town’s edge farm is at risk from commercial and industrial development. The farmers and community members have come together in Wyda Farm LLC, which has contracted the property for purchase in September 2014. The Land • 60 acres of fields and woodlands with 60+ acres available for lease next door • 6-bedroom farmhouse, 1 cottage, 2 barns, and large 4-bay shop building • 400+ acres of abutting conserved forest and walking trails (underway) • 2 mile walk from downtown on major vehicle and bicycle route, with more than 8,500 people passing daily The Letterbox Farm Collective As farmers, we operate as Letterbox Farm Collective. We are young food producers already living on and working this land. We raise specialty vegetables, culinary herbs, pastured livestock, honey, and ginger. Letterbox specializes in niche products and has built a diversity of marketing outlets. We are practicing craftspeople who produce exceptional quality products through exceptional stewardship practices. Our Project Team Faith Gilbert, Vegetable Manager at Letterbox Farm Collective, Researcher Lazlo Lazar, Grounds Manager for Wyda Farm LLC, Park Ranger Nichki Carangelo, Livestock Manager for Letterbox Farm Collective Audrey Gilbert, Beekeeper, Farm-based Educator Gregson Pullen, Property Manager for Wyda Farm LLC, Alternative Energy Businessman Our Neighbors & Partners • Scenic Hudson has identified this parcel as a gateway to a series of walking trails that will connect 400+ acres of conserved land, downtown Hudson, historic Olana, and the Basilica, a major event venue. • Becraft Downs LLC is purchasing the neighboring 80 acre parcel to develop a cluster of farm-based affordable houses, pasture, and infrastructue for potential shared use. • Northeast Farm Access LLC is providing technical assistance on farm acquisition matters. Our Financial Plan After completing a feasibility analysis and developing a business plan, we have: • Committed $175,000 of our own equity, • Secured $200,000 from Scenic Hudson through sale of the property’s development rights, and • Identified $275,000 as the remaining equity investment needed to purchase the property in September.