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Central New Jersey’s Regional Land Trust Innovative Preservation Partnerships Using Non-Profits.

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Presentation on theme: "Central New Jersey’s Regional Land Trust Innovative Preservation Partnerships Using Non-Profits."— Presentation transcript:

1 Central New Jersey’s Regional Land Trust Innovative Preservation Partnerships Using Non-Profits

2 Reed Farms Upper Freehold Township Monmouth County Total of 420 Acres Preserved under Farmland Easement in 2004 An additional 31 acres acquired under Green Acres

3 Powner Farm Washington Township Mercer County 50 Acres preserved in conjunction with Reed Preserved in 2004 Total of 501 acres preserved in overall project, acquired for over $8 million, valued at nearly $8.6 million

4 Collaborative partnership led by D&R Greenway Land Trust which involved: SADC State Direct Easement Program 2 Township farmland preservation programs 2 County CADB programs Bridge Funding from the Open Space Institute Tax-free Land Swap between 2 sellers in project area

5 First meeting with Reed Family revealed: 3 adult children all engaged in business and part owners Ready to sell easement D&R Greenway recommended by their attorney Mad about county use of Eminent Domain Wary of Government Cared about community Wanted to see more Preservation in community Wanted to own leased Powner Farm

6 First Meeting with Powner Family Revealed: Husband recently passed away Mrs. Powner was ready to relocate out of state Little interest in land preservation Needed as much cash out as possible Needed a quick sale

7 Plan of Action: Meet with SADC to ensure money available Assure parcels would have high rank Remove stream corridors from 3 Reed Farms Bring in as many partners as possible to leverage funds Asking for smaller percentages to help ensure cooperation Meet with potential partners to discuss plans

8 Followed by: Prepare application to SADC for Direct Easement Sale from Reeds to County Prepare application to SADC for grant to Non-Profit for Powner Prepare request to Monmouth County to provide 10% of Easement Cost Prepare request to Mercer County and Washington Township for grant to Non-Profit Negotiate with Mrs. Powner and begin appraisals Acquire Powner parcel using Bridge Loan from Open Space Institute

9 Sell Farmland Easement to County and Township Trade deed restricted Powner farm for 31 acre Reed parcel Sell 31 acre Reed parcel to Upper Freehold Township with bargain sale for Green Acres purposes Complete easement purchase on remaining 3 Reed Farms

10 25% Grant from Mercer County for Purchase of Agricultural Easement 25% Grant from Washington Township for Agricultural Easement 50% Non Profit Grant from SADC 80% Direct Easement Purchase by SADC 10% Direct Easement Purchase by Upper Freehold 10% Direct Easement purchase by Monmouth County Low interest Loan from the Open Space Institute Federal government through a 1031 tax free exchange Powner Farm Reed Farms

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14 Leveraged and Increased available funds Preservation Partnerships Allowed the Following: Allowed faster completion of acquisitions due to partners up-fronting money and bridge loans Non profits working closely with landowners and funders allowed creative financial strategies such as land swaps and tax incentives that made the deal possible

15 Partners for Preservation State Partner

16 Monmouth County Agriculture Development Board Mercer County Planning Board County Partners Partners for Preservation

17 UPPER FREEHOLD TOWNSHIP Township Partners Partners for Preservation

18 Non-Profit Partners Partners for Preservation

19 Federal Partner

20 Kiesler Farm Cranbury Township Middlesex County 30 Acres Preserved in 2004

21 Collaboration led by D&R Greenway Which involved the following: Balance of funding from Cranbury Township Fee purchase of Kiesler farm by D&R Greenway through 50% cost share from SADC through the non-profit farmland preservation program. Bridge funding through a loan from the Open Space Institute Bargain sale from landowner Full donation of adjacent land from an adjoining farmer which helped secure funding from Cranbury Township for Open Space

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24 One Preservation Place Princeton, NJ Thank you to our partners for allowing us to preserve more than we could alone


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