N.J. Admin. Code § 2:76-17.13 - Final board review

(a) The board shall approve or disapprove the acquisition of a development easement on an eligible farm based on total available funding and provide the following to the Committee:

1. A commitment of funding by the county and each level of government that is providing funding, as evidenced by an adopted resolution of each governing body.

i. In the event that municipal funding is not being provided, the municipality, by resolution, must approve of the purchase of the development easement.

2. A commitment of funding in the event the development easement shall be acquired under installment purchase pursuant to the Agriculture Retention and Development Act, N.J.S.A. 4:1C-32, as amended.

3. In the event that donation or other method of leveraging monies authorized pursuant to N.J.S.A. 13:8C-1 et seq., P.L. 1999, c. 152, is being utilized, a commitment of funding as required to purchase the easement.

(b) Nothing in this subchapter shall be construed to require that any eligible farm in a project area shall receive a price per acre that is the same as any other eligible farm in that project area, or that any eligible farm must be purchased with installment payments because other eligible farms in the project area are so purchased.

(c) No development easement shall be purchased at a price greater than the higher of the two independent appraised values determined pursuant to N.J.S.A. 4:1C-31.h.

(d) In the event that there are insufficient county, municipal, or other non-SADC funds to acquire development easements on all of the eligible farms, the board shall establish a priority ranking of farms pursuant to its ranking criteria and N.J.A.C. 2:76-6.10(a)1 i and shall forward, to the Committee, requests for final approval only for those farms for which there is a sufficient local funding commitment.

Notes

N.J. Admin. Code § 2:76-17.13

Amended by 52 N.J.R. 1549(a), effective 8/3/2020