This week, on August 18th, Governor Corzine signed the legislation that places a $400 million bond measure on the November 3rd ballot to let voters decide whether to continue funding for the Green Acres, Blue Acres and Farmland Preservation programs, and the NJ Historic Trust.
Funds from the 1998 Garden State Preservation Trust (GSPT) and the 2007 $200m bond measure have all been appropriated for state, county, local and non-profit open space, farmland and historic preservation projects throughout the state, leaving coffers virtually empty for any new projects.
Without additional funds, New Jersey will suffer the first gap in funding for preservation efforts in over two decades, missing out on tremendous land conservation opportunities and reduced land values in the current real-estate market. A $400 million bond measure would continue preservation efforts for two years at current levels. A recent analysis by the state found that a two-year, $400m investment could protect 73,500 acres of land and yield $10 in economic value for every $1 invested, in the form of ecosystem services (such as water purification, waste treatment and flood mitigation), natural goods (such as fish and farm products), and eco-tourism revenue across the state. Jobs would also be created through historic restoration and park development projects. Issuing the bonds would cost $10 annually per household and would increase state debt by less than 2%.
If you love your hometown and want to weigh in with your opinion on the importance of things like open spaces, historic preservation and clean drinking water, be sure to head to the polls on November 3rd.
Funds from the 1998 Garden State Preservation Trust (GSPT) and the 2007 $200m bond measure have all been appropriated for state, county, local and non-profit open space, farmland and historic preservation projects throughout the state, leaving coffers virtually empty for any new projects.
Without additional funds, New Jersey will suffer the first gap in funding for preservation efforts in over two decades, missing out on tremendous land conservation opportunities and reduced land values in the current real-estate market. A $400 million bond measure would continue preservation efforts for two years at current levels. A recent analysis by the state found that a two-year, $400m investment could protect 73,500 acres of land and yield $10 in economic value for every $1 invested, in the form of ecosystem services (such as water purification, waste treatment and flood mitigation), natural goods (such as fish and farm products), and eco-tourism revenue across the state. Jobs would also be created through historic restoration and park development projects. Issuing the bonds would cost $10 annually per household and would increase state debt by less than 2%.
If you love your hometown and want to weigh in with your opinion on the importance of things like open spaces, historic preservation and clean drinking water, be sure to head to the polls on November 3rd.
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