Land fund short of resources

Monday, January 15, 2007

By RICHARD PEARSALL
Courier-Post Staff

On June 30, 1999, then-Gov. Christie Whitman signed into law the Garden State Preservation Trust, establishing a source of funds to preserve farmland and other open space.

The goal, the governor said in one of the most notable proclamations of her administration, was to preserve a million acres of farmland and other open space within the next 10 years.

Nearly 300,000 acres -- 291,360 -- have been preserved since then at a cost of roughly $1 billion, according to Karen Hershey, a spokeswoman for the state Department of Environmental Protection.

But the fund is running short of money for further acquisitions and will run out altogether unless action is taken soon, according to a coalition of environmental groups, land trusts and others.

"New Jersey is in a race against time," said Alison E. Mitchell, policy director of the New Jersey Conservation Foundation.

Property that could be saved will fall into the hands of developers unless the Legislature, governor and people all act to replenish the fund, the coalition -- the "New Jersey, Keep it Green" campaign -- warns.

In November 1998 the voters approved sending the Garden State Preservation Trust Fund $98 million annually to acquire open space, save farmland and preserve historic sites.

By issuing bonds, the trust has managed to leverage that annual allotment into more acquisitions than direct financing would allow.

But the fund is approaching the point where future allotments must be devoted entirely to paying off the bonds, with no new money available for additional acquisitions.

Hershey said there is no money left to help local communities and nonprofit organizations acquire open space and only $58 million for "state acquisitions."
"Essentially we bought the house, now we have to pay off the mortgage," said David Pringle, of the New Jersey Environmental Federation. "If we want to continue we need to find more money to do so."

A proposal has been introduced in the Legislature to ask the voters to dedicate an additional $150 million per year -- above and beyond the $98 million -- from the sales tax for the trust fund.

"I sponsored the original bill and I'm proud to sponsor this one," said state Sen. Leonard Lance, R-Clinton Township, Hunterdon County, who said the cause is worthy and the money is there provided the state does not waste it on "Christmas tree items -- some people call it pork."

As for borrowing, he said, "I don't favor bonding without voter approval. This will require voter approval."

Gov. Jon S. Corzine is on record as supporting an infusion of new funding for open space preservation, and last July he formed a working group to develop a plan to do so.

The group, composed largely of Cabinet members, is expected to report back to the governor by the end of the month.

To avoid a gap in funding for open space and historic site acquisition, the Green coalition contends, an initiative must be placed on the November ballot, and to do that the Legislature must act by June.

The constitutional amendment the voters approved in November 1998 dedicated $98 million a year from fiscal year 1999 to fiscal year 2009 to finance open space, farmland and historic preservation and $98 million a year for the next 20 years thereafter to pay off the debt on the bonds issued during the earlier period.

The proposal to replenish the fund (sponsored by Lance and Robert G. Smith, D-Piscataway, in the Senate; and John McKeon, D-West Orange, in the Assembly) would ask voters to dedicate an additional $150 million a year for the next 10 years to finance projects, and $150 million a year for 20 years thereafter to pay off the debt.

Reach Richard Pearsall at (856) 486-2465 or rpearsall@courierpostonline.com.

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