Ag panel looking into farm financing
CANTON — A St. Lawrence County panel focused on agricultural issues wants to look into creating a local development corporation to finance farming ventures.
Agriculture and Farmland Protection Board members on Thursday reviewed comments gathered during a series of public forums earlier this year on the future of the county's agricultural industry. Many participants said that the county's Industrial Development Agency should play a greater role in helping farms and that more investment in value-added processing is needed.
"Some counties have a local development corporation for agriculture," said Legislator Frederick S. Morrill, D-DeKalb Junction, a former IDA member. "I think some group, whether it's this board or the Farm Bureau, should approach the IDA about forming an LDC for farmers."
The future of the county's Economic Development Office is up in the air, noted Legislator Daniel J. Girard, D-Louisville. Lawmakers are considering contracting with an outside entity to take over the office's economic development functions.
"We could use casino revenue for a feasibility study," Mr. Girard said. "We also now have River Valley Redevelopment Agency funds, so maybe that could be used for an LDC. Hopefully, as soon as we get our economic development questions answered, we can move forward on something."
Mr. Girard said the group needs to decide whether forming a local development corporation or a nonprofit entity to finance farming ventures is the right approach.
"We've had a lot of people come to us asking for just that," said Clive B. Chambers, Cornell Cooperative Extension executive director. "But there are lots of other issues that have come from these focus groups that an LDC can't address."
Forum participants also cited high taxes, poor agricultural education opportunities, an aging highway system and distance to markets as industry weaknesses.
Board member David M. Fisher suggested that the board not settle on a single solution.
"I would like to discuss the outcomes as a board before we go off in different directions," he said.
"Agriculture has whole different risk scenarios than in traditional lending," Planning Director Keith J. Zimmerman said. "You'd have to figure out how you'd be underwritten, but I think it's a great idea."
