- Associated Press - Tuesday, August 18, 2015

CHESTER, N.J. (AP) - The New Jersey Highlands Council has announced plans to use $9 million in funds to conserve farmland and purchase open space under two new programs.

The Record reports (https://bit.ly/1Li9ujY ) the programs announced Monday reflect an effort by the state to compensate land owners who have seen dwindling property values due to limited development in the region.

The first program works to secure development rights to farms by buying back credits issued to owners.

Landowners subject to a development ban are given “development credits” with a monetary value.

Owners can now sell the credits to the state for transfer to developers.

The second program will purchase land outright for conservation or future recreational use.

The funds come from PSE&G; and PPL Electric Utilities to offset damage caused by their Susquehanna-Roseland project.


Information from: The Record (Woodland Park, N.J.), https://www.northjersey.com

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