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Office of Ag Policy reports Ag Development approvals and beginning‑farmer loans; committee hears three county project examples
Summary
Brandon Reed and deputy Bill McCloskey reported Ag Development Board approvals in August and Ag Finance actions including eight beginning‑farmer loans totaling $1.5 million; committee members praised outreach and asked about county coverage and program impacts.
At the Tobacco Settlement Agreement Fund Oversight Committee meeting, Brandon Reed, executive director of the Kentucky Office of Ag Policy (KOAP), and Deputy Executive Director Bill McCloskey summarized August activity for the Ag Development Board and Kentucky Agriculture Finance Corporation.
McCloskey reported that the Ag Finance Board approved eight beginning‑farmer loan programs totaling $1,500,000 and highlighted two DEAL (diversification through entrepreneurship and agribusiness) loans totaling $472,000. He described three county-level Ag Development approvals: Hancock County Countymen's Association — $5,000 (county funds) for youth programming; Taylor County Fair Association — $34,029 (county funds) toward a $68,058 permanent-bleacher project; and Sugarloaf Mountain Meats in Rowan County — $14,705 for equipment upgrades, noting USDA matching support that helped turn one project into roughly $500,000 in total investment.
KOAP leaders reminded members of upcoming Ag Finance and Ag Development Board meetings and invited member participation. Representative McPherson and other members praised the programs as a tool to preserve generational farms; KOAP staff repeated a statewide land-loss estimate cited from industry forums — about "275 acres of farmland a day" — as context for continued outreach and support.
Committee members also raised outreach and equity questions. Senator Webb asked for historic county participation data and whether the most tobacco‑impacted counties had been served; McCloskey and Lyke (KCARD presenter) said KCARD and KOAP have nearly statewide reach in recent years and described targeted outreach efforts in counties with lower participation.
Procedurally, the committee conducted roll call, confirmed a quorum and approved the July and August minutes by voice vote (no roll-call tally in the transcript excerpt). The chair set the committee's next meeting for Oct. 10.
