Delaware Department of Agriculture

Evergreen provided financial advisory services to the Delaware Department of Agriculture in connection with the development and authorization of a long-term installment purchase agreement (IPA) program as a means of acquiring agricultural conservation easements. Evergreen examined several options available to the Delaware Agricultural Lands Preservation Foundation for issuing IPAs to purchase agricultural easements and the limitations presented by enabling statues and budgetary limitations. Evergreen met with bond counsel to ensure that the alternative IPA structures satisfy federal tax laws. Evergreen has also advised the Department on the potential use of Pensions for Preservation (P4P) trust accounts. Governments can attract farmers into entering PDR (purchase of development rights) programs in return for enrolling the farmers into a government-funded pension program.

Mr. Michael H. McGrath
Chief of Planning
Delaware Department of Agriculture
2320 South DuPont Highway
Dover, Delaware 19901
T: (302) 698-4530