Investments

Bank Of America Investment A 699-acre addition to the Clarence Fahnestock Memorial State Park in Putnam County should benefit residents of the entire Hudson Valley in two significant ways:

Of the additional $150 million, one third is earmarked for protecting lands in the New Jersey Highlands region our water fountain, supplying drinking water to about half of the states residents. Another third is set aside for Governor McGreeveys urban parks initiatives, which aims to create or improve 200 community parks.

Investment Opportunity - It helps protect the Fishkill Creek watershed from development. This 193-square-mile watershed provides drinking water to residents in 10 Dutchess County communities and three in Putnam. Several are among the fastest-growing area municipalities, raising concerns about continued availability and purity of groundwater.

Kingston, New York, along the Hudson River, is the biggest city in the region and is located on the Eastern edge of Catskill State Park.

Banc Of America Investment - It provides added enjoyment for nature lovers visiting the state park, and hikers along the Appalachian Trail. This popular Maine-to-Georgia trail runs through Fahnestock just to the east of the newly acquired property.

(MD) is nicknamed "The Old Line State" and has a land area of 9, 774 square miles which makes it the 42nd largest state in the U.S. Its largest city is Baltimore, the capital city is Annapolis, and its highest point is Backbone Mountain at 3, 360 feet. Maryland joined the Union in 1788 as the 7th state, and is blessed with many great trails, including Crampton Gap to Harpers Ferry, WV, Catoctin Mountain Park and Cunningham Falls State Park and Gunpowder Falls North and South Loop, Gunpowder Falls State Park.

Banking Investment The Open Space Institute, a nonprofit land conservation group based in New York City, acquired the picturesque property for $1.8 million from the Fresh Air Fund. Once the land is turned over to the state, it will formally become part of the park and will be open to the public. The institute has already protected an astonishing 300,000 acres of open space in New York and helped create 18 new state parks since 1995, according to state officials.

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Investment Solution Strategic This latest open space acquisition is remarkable for its size in the Hudson Highlands region, which is already highly developed and continuing to grow quickly. It's especially notable for its rough-hewn vistas of steep slopes, rock outcroppings, wetlands, forests, meadows and streams. More than that, it's a significant counterbalance to potential threats to the region's groundwater, such as the proposed expansion of a major gravel mine in the nearby Town of Fishkill.

"LandVote 2003" is available on the web at www.landvote.org TPL, established in 1972, being. TPL helps conserve land for recreation and to improve the health and quality of life of American communities. TPL depends upon the support of individuals, corporations, and foundations to achieve its mission. Through its conservation finance program, TPL advises state and local governments on the design of new programs to fund parks and land conservation. Visit TPL on the web at www.tpl.org

Investment Banking Services This addition to Fahnestock State Park is more than simply a new place to enjoy nature. It's an investment in the future of New York state.

Bank Investment Poughkeepsie Journal - 7/27/2003

Topic: Highlands

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