Investments

Bank Of America Investment With help from Hunterdon County and a nonprofit group, township officials recently acquired 85 acres of unspoiled land.

If there's one thing N.J. voters respond to, it's open space. They love the concept so much that, despite already hefty tax burdens, they routinely voluntarily raise their taxes to buy more space. Tuesday was no exception, as a number of communities gave their OK on referendums to purchase and preserve open space. Keeping this property free from development certainly is one way to curb sprawl, but it's expensive. And, at some point, there will be no more space to either preserve or build on.

Investment Opportunity Atop Jugtown Mountain and adjacent to other preserved open space, the Trepani Tract had long been a target of the township's open space preservation program, Bethlehem Township Committeeman Joe Stetar said.

And the need for preserving what still remains of our open spaces is growing more obvious. After all, natural lands protect fundamental building blocks of our life clean water, clean air and scenic beauty. Preserved farmland, parkland and open spaces clearly enhance our quality of life around the state.

Banc Of America Investment The township was able to buy it at a bargain price, and Stetar said he believes that's thanks in part to a new attitude emerging in the township.

"The Puglia and Walder farms are in the part of the county we have targeted for preservation and where there are other farms already preserved, " said Freeholder William Haines. He said he is pleased the state has finally decided to permanently preserve more farms in the Pinelands because the county's dedicated farmland and open space tax cannot generate enough revenue to preserve them all. Susan Craft, county land use coordinator, acre Puglia Farm on Petticoat Bridge Road in Mansfield for $925, 980.

Banking Investment Bethlehem Township paid 20 percent, or $116,000, of the property's $562,000 price. The county and the Hunterdon Land Trust Alliance paid the balance.

The township committee has approved plans to purchase another 16 acres that will be preserved as open space, bringing the total number of protected acres in the municipality to nearly 300. The latest parcel to be kept free from the threat of development is located off Crosswicks Road, acre parcel of open space the township acquired in the fall for $1.57 million, according to Mayor George Chidley.

Investment Solution Strategic By comparison, a developer asked for nearly $1 million for a similarly sized parcel in Holland Township. That deal fell through when an alliance between Holland Township officials and the Phillipsburg Riverview organization couldn't get the money together soon enough.

The majority of the property within the redevelopment area is owned by the residents of Ocean Township. In 2000, the same residents voted for a 1. cent tax to preserve open space. This money is to be used to buy private land and preserve it as open space. consuming and expensive, but progress is being made.

Investment Banking Services "I think we have created in Bethlehem Township a culture of preserving farmland and open space," Stetar said.

Bank Investment The land owners were willing to sell the land at a reasonable price because they recognized its environmental significance, he said.

Alternative Investment "It's a bit of a misnomer to call it a three-way partnership, because the seller was a big part of this," Stetar said.

Online Investment Services Off Mine Road near the township hall, the land is heavily wooded and adjoins other open space to create a contiguous parcel of about 240 acres. Preserving large contiguous areas of open space is important to provide habitat for animals.

Accompany Essential Investment The area is home to a number of threatened and endangered species including hawks and other raptors, Stetar said.

Investment Company The land will be open to passive recreational uses including hiking and bird watching. The township will eventually give the county the deed to the land.

Investment Management Solution The acquisition also helps the township toward its goal of linking the large parcel of contiguous undeveloped land to Tower Hill Park nearby, Stetar said.

Investment Management Services By Peter Hall
The Express-Times - 4/27/2003

Topic: Highlands

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