What Is The Lease History Between BED And The Intervale Foundation/Center, Including Lease Lengths, Amount, Etc.?
Prior to 1996, BED leased about 70 acres of tillable land to John Belter, a farmer from South Burlington. At the same time a small acreage was leased to Intervale Foundation (just north of the Waste Wood Depot and currently used by Intervale Community Farm) as was a barn located at 111 Intervale Rd. A five acre parcel was leased to the Burlington Community Gardens (the same parcel still so used today). The lease of the barn ended when the barn was moved across Intervale Rd to the Calkins homestead 3 years ago. BED entered into a lease agreement with the Intervale Foundation in 1996. The term of 15 years commenced Mar. 1, 1996 and will continue until Feb. 28, 2011. There is opportunity for two 5 year extensions, subject to new rental rates for each renewal term. The lease includes a right of first refusal should BED decide to sell the land, upon payment of $5,000. Under the lease, the property shall be utilized for agriculture, land conservation, recreational activities, educational pro
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