Title
Stellwagen Farm Lease: 2015-2018
History
Mr. James Stellwagen expressed interest in extending the lease agreement he has held for the farming of the Stellwagen Family Farm.
The Stellwagen Family Farm Foundation has requested that the $5,625 generated annually from this agreement go to the fund that maintains the farm. The lease includes a payment of $125.00 per tillable acre (approximately 45 acres). The terms and conditions of this lease agreement match those of the previous agreement, with the exception of the expiration of the agreement which would extend the term to three (3) years commencing March 1, 2015 and expiring February 28, 2018.
Village staff recommends the extension. Attached is the lease agreement for your review and approval.
Financial Impact
$5,625 to the Stellwagen Family Farm Foundation fund annually over 3 years.
Recommended Action/Motion
I move to approve the farm lease agreement for the Stellwagen Family Farm Foundation with James Stellwagen for the years 2015-2018.