Private Equity Fund Of Funds Critics of the sweeping effort to preserve the northern Highlands have always questioned where supporters would get the money to compensate property owners. Yesterday they got part of the answer.
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Curve Equity Exposed Fund The administration of Gov. James E. McGreevey announced a $30 million preservation fund that will be raised through a tax paid by water users supplied by the Wanaque Reservoir.
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Equity Income Funds "We are making a promise to our children, a promise that they will have a clean environment to grow up in and pure water to drink and power their future industries," McGreevey said in a statement. "These are the greatest gifts we can leave for future generations."
Dedicated annual funds Without dedicated annual funding, congressmen like Frelinghuysen must fight each year for federal funds to buy land and, as happened this year, those appropriations can be reduced when budget problems arise. "I am hopeful that this study, and legislation we will sponsor in the coming weeks, will indeed help us preserve the Highlands by providing a federal designation and a stronger federal commitment to our efforts, " Frelinghuysen said.
Capital Casebook Equity McGreevey's announcement did not mention the word "tax," but officials of the North Jersey District Water Supply Commission confirmed that the $30 million would be raised through a small rate increase to wholesale customers.
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Private Investment In Public The reservoir provides drinking water to more than 100 towns in six northern New Jersey counties, but officials said the initial phase of the increase wouldn't amount to more than 20 cents annually for each residential customer.
The fund plan was hailed by Thomas Gilbert, executive director of the activist Highlands Coalition, as an "innovative program" that will complement federal, state, local and private funds that have been dedicated to Highlands preservation efforts.
Equity Mutual Funds Commission officials said it was difficult to say precisely what the increase would amount to over time because it would depend on which lands are chosen for preservation, how much they end up costing and what assistance the commission might get from public and private partners.
Birmingham Contact Equity Colleen DeStefano, assistant director of the commission, said the rate would never be more than $1 a year per customer.
Private Equity Investment Firm The towns served are in Bergen, Essex, Hudson, Morris, Passaic and Union counties, including parts of Newark, Elizabeth, Passaic, Paterson and East Orange. The commission estimated that unless preservation measures are taken, treatment costs could soar by billions of dollars in coming decades.
Complying Deal Equity Funds There has been strong support for a water tax among residents of the Highlands, a wooded region that includes most of the major reservoirs in North Jersey. Locals consider it a matter of equity that urban residents pay to preserve land that protects their own water supply. They have long grumbled that the cities were getting off cheap.
Equity Msn Private Wyoming The water supply in the Highlands stands testament to the foresight of urban leaders, however, who purchased large pieces of the properties as early as the 1800s to ensure a supply of clean drinking water.
American Equity Investment In recent years, scientists have expressed concern that increased development in the Highlands was threatening the water supply. These concerns led McGreevey to press an ambitious preservation effort that eventually placed 395,000 acres off limits to development.
Equity Index Funds While the initiative was being debated, some local legislators said that a water tax for users would be a fair exchange for preserving the land. Chief among them was Sen. Henry McNamara (R-Bergen).
Equity Private Team Wyoming Yesterday, McNamara said he was unhappy with the plan, preferring some of the money be used to provide tax relief to towns in the Highlands that lost development potential in the preservation effort.
Equity Group Investment "Unless a portion of the money goes for property tax relief ... I couldn't support it," McNamara said. "It's another gimmick."
Capital Development Equity Environmentalists applauded the move yesterday, saying the need for land-preservation money was urgent.
Article Between Difference "Watershed protection is the most effective and economical way of ensuring the quality and quantity of drinking water supplies," said Tom Gilbert of the Highlands Coalition. "This innovative program will complement the already significant federal, state, local and private funds that are being targeted to protect priority watershed lands in the Highlands."
Contact Equity Private Wyoming While it may be equitable, however, it won't necessarily be popular with urban residents.
Agreement Equity Investment Passaic Mayor Sam Rivera had criticized the notion of an increase during the summer, when word of a tax was first discussed.
Business Equity Funds "We are paying enough already," he said. "They have been killing us already with increases."
Private Equity Fund By Steve Chambers
Star-Ledger - 11/4/2004
Topic: Highlands
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