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Save the Pike Farm Stand

NEWS: Contract Extended to April 2009

In the Summer of 2007, over 3,000 East End residents and visitors signed up to "Save the Farm Stand" operated on Sagg Main in Sagaponack by Jim and Jennifer Pike. In the Fall of 2007, the Peconic Land Trust made an offer to the Hopping family, who own the 7.8-acres of land that is home to the farm stand, and that offer was accepted in the Spring of 2008 and the Trust signed a contract with the Hoppings to purchase the parcel for $8.23 million by mid-October 2008.

It is our pleasure to inform you that Mr. Hopping and his family have graciously agreed to extend the contract to purchase the site of the Pike Farm Stand by 6 months to April 22, 2009. Given the current economic climate, this additional time is essential to our success.
 
We would like to take this opportunity to thank all of you who have made pledges and contributions to the Hopping/Pike Farm Stand conservation project. To date, the Trust has received commitments of nearly $800,000 from over 100 individuals to protect this important community resource.  
 
Needless to say, we have a long way to go!  Help us get there by making a pledge today. With your commitment, we are confident that we can make the protection of the Pike Farm Stand a reality.
 
Our goal remains to raise private funds of $4.3 million towards a total of $8.4 million (the purchase price of $8.23 million plus $170,000 in projected fund raising and transaction costs).  We continue to pursue the participation of both the Town of Southampton and Suffolk County in this acquisition.  If both the Town and County participate, we may be able to lower our fundraising goal accordingly, but this remains to be seen.   
 
Meanwhile, Suffolk County, we are told, continues to move forward in their evaluation process for this project and we are hopeful to hear a determination in the New Year.  However, the slow real estate market has resulted in fewer receipts for the Town's Community Preservation Fund (CPF), further limiting the Town's ability to make a commitment to partner with the Trust on this acquisition.
 
The effort to protect the Pike Farm Stand remains daunting, especially in these difficult economic times. But conserving working farms and the agricultural heritage of Sagaponack and the East End. You are integral to our success!
 
Thank you again for your recognition of the Pikes, the food they provide, and the value of local agriculture. Like you, all of us at the Trust will do everything we can to conserve the Hopping property so that the Pike Farm Stand will remain a part of our community. Over the ensuing weeks and months, we will continue to be in touch with you. (If you are interested in re-reading our previous emails on the Hopping/Pike Farm Stand project, click here to access our eNewsletter archive.)  is a goal worth fighting for. Over the past 25 years, in partnership with landowners, communities, organizations, and local government, the Trust has conserved over 9,000 acres of working farms and natural lands. During this, our 25th Anniversary year, we have a lot to be proud of, but there is still much work to be done.

We can do this with your help . . .  here is how.

First, we must raise $4.3 million from private sources by mid-April. We will be counting on your participation first through pledges, then your actual contributions when we have reached our goal.  The first $3 million of this amount we hope to raise through 6 leadership gifts of $500,000 each.  We are pleased to announce that Barbara Slifka has committed the first $500,000 provided that it is matched.  The balance of $1.3 million we hope to raise from smaller contributions; to date we have received $300,000. 

Click here for the online pledge form or,
Click here to download a PDF of the pledge form (which includes a donor information sheet) that you can print it out and send to the Peconic Land Trust:
By Mail: P.O. Box 1776, Southampton, NY 11969
By Fax: 631.283.0235
By Email: pledges@peconiclandtrust.org

Second, we must borrow $4.115 million until we sell the development rights to Southampton Town or are able to secure other public funding.  Ideally, we will be able to borrow these funds from private conservation lenders who may lend these funds at a discounted rate or forgive the interest all together as a charitable donation.  If necessary, we will go to traditional lenders to borrow the necessary funds.  This will, however, result in additional transactions costs (i.e., interest).

While this is a daunting undertaking, the Trust has been enormously successful in raising private funds to protect working farms and other significant parcels in Sagaponack and Wainscott.  For example, the Trust was able to raise about $6 million from nearly 500 contributors to protect the Babinski Farm, the Conklin House and property, and the White Farm. These private funds were combined with about $11 million in public funds from the Towns of East Hampton and Southampton. Working with landowners, communities, donors, and municipalities, the Trust has conserved over 9,000 acres of working farms and natural lands since 1983. During our 25th Anniversary, we have a lot to be proud of, but there is still much work to be done. You are integral to our success!

Thank you again for your recognition of the Pikes, the food they provide, and the value of local agriculture. Like you, all of us at the Trust will do everything we can to conserve the Hopping property so that the Pikes can keep farming. Over the ensuing weeks and months, we will continue to be in touch with you. In the meantime, please feel free to contact us at 631.283.3195 or email to info@peconiclandtrust.org with any questions or suggestions you may have regarding the Hopping property or our work in general. With your help and participation, we can "Save the Farm Stand," protect the land, and assure that we will continue to have a great source of fresh produce for years to come.