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Farmland Purchase and Preservation Loan Program Procedures and Guidelines - Delaware
Farmland Purchase and Preservation Loan Program Procedures and Guidelines is a legal document that was released by the Delaware Department of Agriculture - a government authority operating within Delaware.
FAQ
Q: What is the Farmland Purchase and Preservation Loan Program?A: The Farmland Purchase and Preservation Loan Program is a program in Delaware that provides loans to farmers to purchase and preserve agricultural land.
Q: Who is eligible for the Farmland Purchase and Preservation Loan Program?A: Farmers in Delaware who intend to purchase farmland for agricultural purposes are eligible for the program.
Q: How does the loan program work?A: The loan program provides low-interest loans to eligible farmers to help them purchase farmland. The loans have terms of up to 20 years and can cover up to 73% of the purchase price.
Q: What are the guidelines for the loan program?A: The program requires that the farmland be used for agricultural purposes and be subject to an Agricultural Conservation Easement.
Q: What is an Agricultural Conservation Easement?A: An Agricultural Conservation Easement is a legal agreement that permanently restricts the use of the land to agricultural purposes, protecting it from future development.
Q: Are there any additional requirements or restrictions for the loan program?A: Yes, farmers must provide a down payment of at least 27% of the purchase price and demonstrate financial stability.
Form Details:
- The latest edition currently provided by the Delaware Department of Agriculture;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of the form by clicking the link below{class="scroll_to"} or browse more documents and templates provided by the Delaware Department of Agriculture.
Download Farmland Purchase and Preservation Loan Program Procedures and Guidelines - Delaware
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