[HISTORY: Adopted by the Mayor and Council of the Borough of Oceanport as indicated in article histories. Amendments noted where applicable.]
Article I Open Space Dedicated Trust Fund
[Adopted 3-1-2001 by Ord. No. 740 (Ch. 11 of the 1970 Code)]
There is hereby established an account which shall be known and designated as the "Open Space Dedicated Trust Fund" which shall be maintained in accordance with N.J.S.A. 40A:4-1 and 40A:5-1.
[Amended 7-22-2004 by Ord. No. 775]
The Open Space Dedicated Trust Fund shall be funded through the dedication to the fund of an amount of $0.02 per $100 of assessed valuation of each annual tax levy commencing with the year 2002. The funds shall also be permitted to accept donations and testamentary bequests.
Unless otherwise prohibited per prevailing regulations of the Department of Environmental Protection/Green Acres Division (as may be amended from time to time), the funds accumulated within the trust fund shall only be utilized for the following purposes:
Costs incurred in connection with the acquisition of land for open space purposes;
Costs incurred in connection with the acquisition of land for passive or active recreational purposes;
The construction and maintenance of improvements on/upon/in open space lands and/or recreational lands;
Labor, equipment, and related costs associated with the acquisition, construction, ordinary maintenance, and improvement of open space lands and/or recreational lands;
Acquisition of development rights (in lands of others) to be utilized for active and/or passive recreational purposes; and
Reasonable and necessary costs incidental to the aforesaid purposes, including but not limited to appraisal costs, engineering costs, attorney fees, bond issuance costs and other reasonable and lawful expenses.
The Borough Council is to determine the properties or development rights to be acquired by gift, purchase or by eminent domain proceedings, pursuant to N.J.S.A. 20:3-1 et seq., within the financial constraints it establishes.
Any property acquired with the funds from the Open Space Dedicated Trust Fund may be leased or sold in accordance with any applicable law, provided that the proceeds of said sale are deposited into the Open Space Dedicated Trust Fund, as set forth in § 55-1 of this article.
In accordance with the provisions of N.J.S.A. 40:55D-25(b)(3) of the Municipal Land Use Law of the State of New Jersey, the Planning Board of the Borough of Oceanport is hereby authorized and empowered to prepare a report recommending which parcels of land should be acquired in fee and/or those parcels of land from which the Borough should acquire development rights only.
The Planning Board shall submit to the Mayor and Borough Council a prioritized list of properties which it recommends that the Borough acquire and/or properties from which it recommends that development rights should be acquired. The Mayor shall review the list as submitted and make recommendations to the Borough Council for a determination as to which properties are to be acquired and shall state the amount of funds that should be made available for such acquisitions.
After selection of the properties to be acquired, referred to in Subsections A and B above, the Borough may proceed to acquire, by gift, purchase or by eminent domain proceedings, pursuant to N.J.S.A. 20:3-1 et seq., the identified parcels within the financial constraints established by the Borough Council.
In the event that no property is acquired under this article for a period of five consecutive years, then the Mayor and Borough Council shall review the activities of the Planning Board and the Mayor shall issue a report to the Borough Council with recommendations and conclusions concerning the reserve for open space acquisition.