UPPER FREEHOLD – Monmouth County, Upper Freehold Township and the state will share the cost of acquiring a development easement on a Route 526 farm in Upper Freehold.
On June 26, the Monmouth County Board of Freeholders passed a resolution authorizing a cost share agreement among the three levels of government for a development easement purchase on a 59-acre parcel that is owned by Jersey Longhorn LLC, Spring Lake.
The purchase of the easement will permanently preclude development from occurring on the property and will preserve the land for agricultural purposes, according to the resolution.
The certified market value per acre is $12,500, yielding an estimated total cost of $737,500. The estimated state share will be $442,500 (60 percent), the estimated county share will be $177,000 (24 percent) and the estimated municipal share will be $118,000 (16 percent), according to the resolution.
On June 5, the Monmouth County Agriculture Development Board granted final approval for the purchase of the development easement on the Jersey Longhorn property. On June 14, the Township Committee approved and endorsed the purchase of the development easement, according to the resolution.