Investments

Bank Of America Investment Ten Morris County farms totaling 513 acres, including a so-called "gateway farm" in Chester Township, are being recommended for preservation this year by the county's Agriculture Development Board.

A state agency voted Tuesday to pay for preserving the popular Johnson family farm in Medford, where thousands of children take hayrides, pick apples and hunt for Easter eggs each year. But several controversial properties were also part of a massive list approved Tuesday by the Garden State Preservation Trust. With little discussion, the Trust voted to save 164 farms, totaling 12, 426 acres. The $73.2 million to be spent includes $14 million for farms to be purchased later at auctions.

Investment Opportunity Four Chester Township properties are included, marking the first time since the agricultural preservation effort began in 1987 that Washington Township farms have not dominated the list of applicants.

Kocsis own the farm in Kingwood Township. They agreed to sell a preservation easement for $210, 800. The Moreira Family LLC owns the Raritan Township farm and agreed to sell a preservation easement for $1.7 million. Susan Barbara Henssler and the Hazel M. Harrison Living Trust own the farms in East Amwell Township. Henssler agreed to a $864, 500 deal, and the trust agreed to a $707, 000 deal.

Banc Of America Investment At the top of the list is the sprawling 188-acre Schmitz farm, or Pleasant Hill Farms, off Larison Road, whose red and white barn is prominent from Route 206. Chester Township already has taken the lead on this property, approving an $8 million deal to buy it, with hopes of getting at least partially reimbursed with state and county funds.

Morris County Farmland Preservation Director Frank Pinto said he understands the importance of keeping farming viable but worries about public perceptions. "I am concerned about a loss of public trust for the preservation program statewide, " he said. "There could be a public perception that preservation dollars are being wasted and farmers are being allowed to circumvent the law." Lance, space preservation, said he believes the bill would entice more farmers to join the program, because they wouldn't feel as if it ties their hands.

Banking Investment Local officials have said losing that farm could harm the rural character and beauty of their community, while also dealing a blow to the viability of the township's remaining agricultural industry.

The Schmitz Farm was purchased for $8 million last spring. At that time, it was the fourth and the largest farm that Chester Township had preserved. More than 5, 000 acres in the township are farmed, and seven farms have been permanently preserved. mile community is protected from development. "That way we can keep agriculture as a way of life and a viable business in the township, " Spinelli said, "ensuring that this will always remain a special place to live."

Investment Solution Strategic The list also includes two farms in Washington Township -- the county's prime agricultural belt -- and individual farms in Mount Olive, Boonton Township and Mendham Township, plus a horse farm in Harding, at a potential cost of $13 million.

Farmland located here in the southeastern corner of Mantua Twp. will forever be preserved, thanks to an agreement between its owners and the state. acre Eachus dairy farm on Jefferson Road was performed with the help of a state grant not to exceed $1 million. The easement allows for the land to be used only as a farm, officials said. A township official said the owners of the property applied to the state to enter their land into the preservation program. The farm is located near the border of Harrison Township.

Investment Banking Services Each of the sites will be appraised and applications will be prepared for submission to the state Agricultural Development Commission. They will then compete later this year with submissions statewide for state preservation funds. Money generated by a voter-approved county open space and farmland preservation trust fund would finance about half the $13 million cost, officials said.

Bank Investment Members of the county's agriculture board toured a host of farms earlier this month, trying to gauge the agricultural viability of each, while also considering the potential threat of development of those lands. Saving the Schmitz farm ranked high on that list, said county Farmland Preservation Director Frank Pinto.

Alternative Investment "That's absolutely a key piece to save, from a farming perspective and from a visual perspective because of its prominence from Route 206," Pinto said.

Online Investment Services "It's a gateway to our town," added Chester Township Mayor Ben Spinelli, who said the preservation deal between the township and Schmitz family, which owned the land for more than 60 years, should be concluded within a month.

Accompany Essential Investment When the Schmitz farm deal is completed, it would be the fourth and largest farm preserved in Chester Township, a 29.4-square-mile municipality with about a third of its land preserved for open space, parks or farming.

Investment Company Taxpayers have spent more than $47 million since 1987 to preserve 57 farms totaling 3,878 acres in 10 Morris County towns, primarily Washington Township. But county officials also have been pushing to save farms in adjoining western towns, to expand the farm belt, and have been racing developers to prime land in neighboring Chester Township and Mount Olive.

Investment Management Solution Pinto said there was no deliberate attempt to push preservation efforts in other towns in this year's round of applicants, but that it "just happened to fall that way." He stressed there are still many agricultural properties in Washington Township that could be preserved.

Investment Management Services Owners of farms that are enrolled in preservation are paid to permanently deed restrict their land for agricultural use, but retain ownership.

Guide Investment Stock By Lawrence Ragonese
Star-Ledger - 5/21/2002

Topic: Less Sprawl

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