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Peconic Land Trust to Use Sagg Foursquare to Subsidize Farmland

After buying it from a developer, the Peconic Land Trust alluded to its intentions for the simple foursquare-style farmhouse shown right: plop it on some land originally held by the trust for preservation, and then sell it on the open market. But some people find it peculiar that a land preservation trust would take land that's already protected and turn around and sell it. How does that make any sense? When you step back for a second, it sort of does! President of the Peconic Land Trust John v.H. Halsey explains to the Southampton Press that once the foursquare sells, the trust will use the profit to help buy "7.6 acres of prime farmland." And once that deal's done, it'll sell the new land (less any development rights) to a farming family for $25k per acre. Another perk of this move is that the Trust can offer the land to the farmers at a highly discounted price. Says Halsey, "It's a form of subsidizing a sale at a price they can afford. It's like an affordable housing project, with farmland instead of a house." If it takes money to make money, then it also apparently takes land to preserve land.
· Peconic Land Trust Hopes New Approach Will Help Save Farms [27East]
· All Sagg Foursquare coverage [Curbed Hamptons]