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|Articles - May 2013|
|Monday, April 29, 2013|
Page 3 of 5
That farm financing is difficult is not new. Plenty of local programs have tried to help young farmers get onto land, whether by providing matching savings programs and loan application help, such as Slow Money Northwest is attempting with their Farmer Reserve Fund program, or by creating listings to match existing land owners with land seekers, as Friends of Family Farmers is doing with their iFarm program. But traditional bank loans don’t flow easily to farmers. This makes iFarm land seeker and young farmer Aren Hinely curious about Farmland LP’s model.
“Early in [my] search in 2007 and 2008, financing was much easier, but as my family didn’t have much experience in farming at the time, our income-debt ratio was largely all that mattered,” Hinely says. Over time Hinely found a cheap-enough piece of land, but it came with compromises, including a smaller size in a less than ideal location with more land rehabilitation needed. Now that Hinely contemplates expansion, he still faces financing hurdles.
“Overpaying for land, or being in the wrong place, or not having sufficient water and soil quality can lead to compromises in the farming in order to make a mortgage payment,” he says. “I’m very interested in what Farmland LP is up to.”
Instead of leaving investment in farming to the banks, Farmland has found a group of individual and institutional investors who are willing to put money into the Farmland equity fund, in the hopes that returns will be as good or better than commodity cropland’s approximately 5% annual return (not including land appreciation). Farmland’s pasture-based organic and sustainable model has the added benefit of being catnip to socially responsible investors.
Portland-based non-profit Ecotrust is one of these, having followed Farmland LP from its inception. Richard Hervey, Corvallis city council president, is another.
“I really like the model,” Hervey says. “I wanted to move some of our money out of the stock market. Farm land is a fundamentally stable investment and Farmland LP is also a local investment.”
Monday, February 23, 2015
Yeah, we know: Oregonians are way too cool for umbrellas. But today’s stylish, high-tech models will soften the resistance of the most rain hardened.
Friday, March 27, 2015
BY OB STAFF
New events series brings magazine to life.
Thursday, March 26, 2015
BY KIM MOORE
A conversation with Craig Wanichek, president and CEO of Summit Bank.
Tuesday, February 24, 2015
BY LINDA BAKER | OB EDITOR
At Oregon State University, a 21st century version of the bad dream — nuclear terrorism — is alive and well. This winter, the Department of Nuclear Physics and Radiation Health Physics created a new interdisciplinary graduate emphasis in nuclear forensics, a Sherlock Holmes-sounding program that aims to identify how and where confiscated nuclear and radiological materials were created.
Thursday, March 19, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
There are 278 companies licensed to operate as brewery, according to the Oregon Liquor Control Commission. Here are three new beer-making hubs slated to open soon.
Thursday, February 12, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Examining the governor's rapid fall from grace in a "bizarre" and "unprecedented" saga.
Monday, March 02, 2015
BY KIM MOORE | OB RESEARCH EDITOR
Portland-based healthcare provider ZoomCare said it plans to “remake American healthcare” by expanding its on-demand urgent care model to emergency, surgery, dental and primary care, among others.
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