R.I. to buy Schartner farm development rights for $5.25M
5:59 PM Tue, Dec 09, 2008 | Permalink
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By Donita Naylor Richard Schartner said today that when he bought the neighboring Bald Hill Nursery property on his side of Route 2 just south of Route 102 on the North Kingstown/Exeter line, he hoped to preserve it. He said he paid $7.4 million and has been paying about $10,000 a week interest for "over 160 weeks." ""It's been three years. It's been very expensive. It's been very challenging," he said, "but we've created something very special. It will be the new model of how farms are saved." Sullivan said DEM has been working with the various owners of Bald Hill Nursery for 15 years to save the land from development. A donor "who would like to stay as anonymous as possible" put up $3 million, said North Kingstown Planner Jonathan Reiner. Each town will contribute $500,000 they received in grants from the state's Agricultural Land Preservation Commission, which allocates open space money for saving farms. Each town will also contribute open space bond money: Exeter at $500,000 and North Kingstown at $750,000, from ballot questions their voters approved. Schartner said that if all goes well, the closing will be within 10 days. The new farm will be known as Schartner Corner Nursery. Bald Hill's retail operation Route 2 in North Kingstown is not affected by the deal. The former Bald Hill Nursery commercial building and 8.5 acres will be part of the Corner Nursery but aren't included in the sale of development rights. About 20 acres, near the defunct state picnic grove on Route 102, is also not included in the $5.25 million deal. But Schartner will be able to sell Transferable Development Rights to keep those acres open or devoted to agriculture while buyers of the transferable rights can apply them to "receiver sites" such as Post Road in North Kingstown. 
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It's great to see that someone is willing to preserve farmland for future generations.
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