1,213 Acres Perpetually Preserved

RednekF350

Piney
Feb 20, 2004
4,312
1,827
1,093
Pestletown, N.J.
http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20061214/NEWS01/612140398/1006

The two layered effect of removing the number of Pinelands Development Credits (PDC's) assigned to the land is an interesting perspective.
I do a lot of Pinelands related development work and the credit system was devised so that a landowner with limited development potential could still receive economic gain from his land or a landowner who just didn't want to see his land developed could still receive a return.
One enters the Credit Bank by permanently foregoing you right to develop. You are assigned credits based on a calculation that considers the amount of upland and wetland on the land.
You can then sell your credits on the open market to people in other Pinelands management areas that are faced with some type of shortfall in their application, such as inadequate depth to groundwater or insufficient buffer to wetlands.
The current rate is $35,000.000 per quarter of a credit!
Not a bad deal for the holder but it really hurts the guy just trying to build one house for his family.
I have had clients who paid as little as $3,500.00 only ten years ago.
Park Gun Club in Chatsworth was the single largest holder of credits in the system and they restricted their huge holdings along route 532.
Scott