Investments

Bank Of America Investment A proposed bill to allow farmers to operate non-agricultural businesses on preserved farms got a thumbs down yesterday from the Morris County freeholders.

In December, the Thai Board of Investment reported the value of investment applications from January to November had declined by 27% year.

Investment Opportunity The board passed a resolution opposing the bill, saying it seems to violate the spirit of preservation and could cause a backlash by voters who have long approved use of tax dollars to save farmland. They also were angered their legislators did not consult with them before considering the measure.

Two more farms are now on the preservation list. The Burlington County Board of Freeholders saved the farms Wednesday as part of its farmland preservation program at a cost of $1.1 million. The board authorized the final agreements to buy easement rights that will bar all future development on the Arthur Puglia Jr. Farm in Mansfield and the Stephen Walder Farm in Springfield, assuring they will remain in agriculture.

Banc Of America Investment The bill, which unanimously passed the Senate earlier this year, was withdrawn from consideration by the Assembly on Monday after critics campaigned against it. The bill's fate was not clear, though supporters said they were confident it would soon be reconsidered and become law.

Scott Ellis, a neighbor of the farm, grows crops on the property. Preserving the farm would help keep one of the few farmers that remain in the township in business, said Eileen Thornton, a planning board member who is lobbying for the property's conservation.

Banking Investment Morris officials, however, led by Freeholder John Inglesino, said they want a lot of questions answered before the bill is reconsidered.

Many people fear owning a property, let alone owning an investment property out of state. However, as a true real estate investor, you must put yourself in the mode of a business owner. Real estate investment is a business, and like any business, it may come necessary for you to hire people to work for you. That's what realtors and property managers are there for. In order to really expand your real estate investing business, you must get comfortable with hiring property managers to manage your properties.

Investment Solution Strategic The Senate bill, sponsored by Sens. Leonard Lance (R-Hunterdon) and Bob Smith (D-Middlesex), would allow farmers to seek a special permit for one non-agricultural use that would utilize an existing structure -- they could not build structures to house commercial endeavors -- and which could not interfere with a farm's agricultural activities. It would require approval by the State Agriculture Development Committee and would require local zoning approvals.

Port Howard Lodge (full board), manicured lawns, including a putting green, is the ideal location from which to explore farming life, style.

Investment Banking Services Critics say the bill does not provide enough restrictions to prevent fast-food restaurants, cell towers and other developments that would spoil the bucolic atmosphere. Supporters counter that farmers need the flexibility of added income in order to survive.

Bank Investment Morris County Preservation Director Frank Pinto said there is merit to arguments by both sides. The bill would allow farms to operate bed and breakfasts or crafts and wood-working shops in old barns, open a shop to fix tractors, or place cellular antennas atop barns or silos, all now prohibited because they are commercial ventures.

Alternative Investment "It would allow farmers to have additional income and keep them viable," said Pinto, who dismissed concerns about fast-food restaurants as "very unlikely."

Online Investment Services But Pinto is worried about alienating the public, which has overwhelmingly supported preservation, especially if the bill passes in its current form. He also wondered about the state's or county's ability to monitor commercial ventures on preserved farms.

Accompany Essential Investment Morris County officials have taken heat in recent months from some residents in Boonton Township who are upset that a preserved farm is going to be turned into an equestrian complex, which is an approved use but deemed too commercial by residents. It has made the freeholders more sensitive to uses on preserved farms.

Investment Company "It doesn't really affect us too much if a farm in Burlington County wants to put up a cell tower," said Freeholder Jack Schrier. "But it opens the door to other uses and that is a problem."

Investment Management Solution Schrier will raise the issue today during a meeting with area legislators, he said.

Investment Management Services By Lawrence Ragonese
Star-Ledger - 10/28/2004

Topic: Sprawl

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