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Grain Condominiums 12/21/09 3:20:04 PM
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Town & Country will be constructing grain condominium storage bins at our Mansfield Grain location.
Grain Condominium Storage will be available in July 2010.
Below are some FAQ's. If you have additional questions or are interested in purchasing storage space, please contact Mike Badger or Mark Trenchard at 800/472-4644.
- Where will the condos be located? How much space will be available? Who would own them?
The grain condominiums will be located at our Mansfield Grain Terminal. Seven hundred and fifty thousand bushels will be for sale. A real estate deed is given to the buyer on which property taxes are paid.
- What will the cost be? Will Town & Country offer financing?
The price for condo space will be approximately $2.00 per bushel. At this time we are considering financing and will determine the feasibility of doing so at a later date.
- How big are the condominiums and what type of grain can be stored there?
Space will be offered in 1,000 bushel increments with a 5,000 bushel minimum and can be used for corn, soybeans or wheat.
- Are there rules for the condos? Who makes the rules?
A condominium association will be formed with a governing board and an annual meeting. There will be a minimum annual maintenance fee and utility fee (4-6 cents under current market conditions).
- Do I have to deliver my grain to Mansfield?
The grain space will be in Mansfield, but the grain can be delivered to any of our operating elevators.
- How would the pricing work?
The price paid for the grain will be determined by the delivery point. Normal discounts and charges would apply to grain being delivered to condo storage and Town & Country Co-op would be responsible for the condition of the grain after delivery. All of our current marketing programs will be available to condo grain. Owners of condo space will also be able to deliver their grain to their space at harvest and have it contracted to us on a deferred delivery date.
- Am I guaranteed the space?
Yes, the unused condo space will always be available to the owner except under rare circumstances unforeseen by Town & Country.
- Who owns the grain?
Title of the grain stays with the owner of the condo space until either sold or transferred by agreement to Town & Country Co-op.
- What if I have no use for some or all of my condo space in a given year?
The space can be leased to Town & Country or another producer. Town & Country would have the right of first refusal on leasing the space.
- What if I want to use my grain for feed?
Grain can be stored for livestock consumption as needed by the producer. If the grain was mixed with feed and delivered to the farm there would be no load out charge. There will be a load out charge per bushel when being taken out strictly as grain. In all likelihood the grain could be picked up at the same place it was delivered, but there may be rare times when Town & Country would need to have the final say on where the grain would be available. That grain could also be delivered by Town & Country to the owner.
- What if I no longer want or need the condo?
When an owner of space no longer is a producer, that space can be sold either to another producer or Town & Country Co-op which would have the right of first refusal. Market conditions will dictate the value at sale time.
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