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Dow AgroSciences and Upper Makefield Township Announce Conservation Easement to Preserve Historic Ag Land
Indianapolis, IN and Newtown, PA - October 06, 2005 Dow AgroSciences LLC agreed to grant Upper Makefield Township an agricultural conservation easement on 162 acres of property owned by the company in Bucks County. The Agreement of Sale for the easement was approved at the Township's public meeting on October 5. The land, formerly a research farm now leased for agricultural production, has significant natural, educational and recreational value. The conservation easement will ensure the land remains a natural asset in this historic Eastern Pennsylvania area. "As a leading agricultural company, we are pleased to help preserve the agricultural legacy of this historic farmland," says Jerome Peribere, Dow AgroSciences President and CEO. "The foresight and leadership shown by Upper Makefield Township in creating their conservation easement program perfectly complements our goals of being a good neighbor and responsible corporate citizen." Betsy Falconi, chair of the Upper Makefield Board of Supervisors, said, "We are pleased to share in Dow AgroSciences' and Mr. Peribere's appreciation for the value of agriculture and natural resources in our township. This is a fine example of how industry and municipal government can work together for the benefit of the community." The Dow AgroSciences property is the 14th piece of land that will be protected by the township's successful Open Space and Farmland Preservation program, which has now preserved more than 1,800 acres of the Township. Under the terms of the Agreement of Sale, the Township now has 30 days under which it will be entitled to perform a due diligence assessment of the property prior to the formal grant of the easement by Dow AgroSciences. Once the easement is granted, Dow AgroSciences will retain ownership of the property. The easement, which aligns with the Township's desire to maintain open space in agricultural use, will permit certain agricultural practices on the property, and will allow for the subdivision of the property into a maximum of four residential lots. If subdivided, at least one lot and not more than two lots, must be greater than 70 acres and developed to facilitate continued agricultural use of the majority of the land. About Dow AgroSciences, LLC For Editorial Information:
Kenda Resler Friend
Joseph Czajkowski |
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