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Deptford Sells 5 Acres To Land Trust For $42,500

Private Equity Fund Of Funds Another five acres of pristine woods will never be built on, thanks to a sale authorized by the township Monday to a private land trust.

The Trust for Public Land entered into an agreement with the property owner to acquire the parcel at fair market value, according to the release. However, the contract expires next month. After some delay, according to the release, the Trust for Public Land received a verbal commitment from the New Jersey Green Acres Program for the release of $1, 978, 955 in federal coastal estuary dollars. The Trust for Public Lands expects to secure another $115, 000 from the William Penn Foundation.

Curve Equity Exposed Fund Assessed at $85,000, the land was sold for $42,500 to the Old Pine Farm Natural Lands Trust, a Deptford nonprofit organization. The group paid for the property with a New Jersey Green Acres grant. Work on the sale began in late 1999.

Another gift came in the form of land. In the heart of the Pine Barrens in Burlington County, a family corporation has decided to sell its family land of 9400 acres for half of its market value. It is one of the largest privately held tracts of land in New Jersey, and the familys decision to sell it for half price, made it possible to permanently preserve the land for future generations.

Equity Income Funds The township has owned the Blackwood Terrace property on Bayer and First avenues for several years, said Township Manager Joseph Picardi.

Five years ago, New Jersey voters approved the Garden State Preservation Trust Fund, a decades worth of money to preserve a million acres of open space and farmland. The fund made $98 million available for preservation each year for ten years. Since then, over 300, 000 acres have been added to New Jerseys inventory of preserved lands, including local parks, wetlands, farmlands and forests. So when it came time to ask voters to amend the Garden State Preservation Trust to take advantage of low interest rates, they did it again this Fall, 1!

Capital Casebook Equity The property was zoned residential, meaning one or two homes could have been built on it, Picardi said.

Even better, though, space purchases. By tucking away five acres of land to remain untouched, Deptford made an investment in its beauty. Open space in a place such as New Jersey is hard to come by, and it's refreshing to see local residents supporting measures that ensure at least some of it will be saved.

Private Investment In Public An estimated 150 acres in Deptford are preserved as open space, totaling just more than 1 percent of the township's land.

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Equity Mutual Funds As Deptford becomes more developed, natural lands are becoming increasingly precious, said Joe Birmingham, a trust member.

Birmingham Contact Equity "This piece of ground is absolutely beautiful," Birmingham said. "It's absolutely crucial to the overall quality of life in that area."

Private Equity Investment Firm The trust also owns 32 acres of preserved ground along Big Timber Creek, which connects to the land sold by the township. Members of the trust privately own and manage those wetlands and woods, although the property is open to visitors. The entrance is on Rankin Road.

Complying Deal Equity Funds George Willoughby, a founding member of the land trust, said the five acres have never been developed and are part of Big Timber Creek's watershed. A stream runs through it and drains into the creek.

Equity Msn Private Wyoming The sale is "an example of how working together, we can save some of this land and keep it from being spoiled," Willoughby said. "We need to save these lands for the future."

American Equity Investment By Kim Mulford
Courier-Post - 10/2/2001

Topic: Less Sprawl

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