The Fleecing of Hamilton and NJ- The wetland report

Klockner Woods is 1/3 wetland, according to a long-awaited study of the Hamilton Twp. property*. However the study was not definitive on how many homes could be built on the remaining land, and that will be the subject of debate for some time, I'm sure.

But based on a concept plan submitted in 2004 by the land's owner, Doylestown developer Fieldstone Associates, the wetlands would cover all but 31 of the proposed homes along with a storm water basin.
Based on $100,000 per lot, the purchase price would come to $3.1 million, saving the township $1 million.
More homes also could be lost once state-required wetlands buffers are
actored in.
But township officials said yesterday the 31 acres not covered by wetlands could hold closer to 40 homes.
That number may be crucial in determining how much the township actually ends up paying for the property.
...
In her ruling ordering the township to begin paying interest, Superior Court Judge Linda R. Feinberg left open the possibility the price could be reduced if the number of homes the land can hold is substantially lower than 41.
Since then, the township has paid $218,664 -- $27,333 per month -- in interest payments on the $4.1 million.
Feinberg also gave the township hope on that front when she hinted that she might allow the already-paid interest to be credited toward the purchase price of the land.
John Buonocore, a lawyer representing Fieldstone, said yesterday he had not seen the township's report and could not comment on it.
But during last fall's hearing, Buonocore argued that the $4.1 million was not based on the number of lots and so should not be reduced if the number is lower.
Both parties agreed to the price, Buonocore argued, and should be binding. Feinberg is expected to rule on the price once the state Department of Environmental Protection (DEP) has approved the study.

Mayor Glen Gilmore immediatly struck the vindication bell:

"What is clear from this application is that our experts have determined that there is a significant amount of buildable land in Klockner Woods and it doesn't come close to being a swamp as some people claimed it was," Mayor Glen Gilmore said in a statement.
Gilmore blamed partisan politics for the eight-month delay in buying the land and said opponents of the deal misrepresented the amount of wetlands.

Opponents misrepresented the amount of wetland? Mayor, this study doesn't exactly paint you and the council as in the right. The number of housing lots available is most likely 75% of what you agreed to shell out other people's money for. Don't forget township planners knew years ago that 41 lots wasn't feasable. The land should be saved from development, you betcha, but at a reasonable and fair price- for instance, one that was studied in advance.

The study now has to go to the DEP for approval. The agency has said it does not have enough information to decide whether they will contribute the money for purchase through the Green Acres program. Does that mean that Hamilton will get stuck with most of the bill on this, with only Mercer County chipping in its portion?


*Hamilton Twp. sold the property to Fieldstone Developers in 2001 for $375,000 with the intent of development. Four years later, Hamilton agreed to buy it back for conservation for $4.1 million. Hamilton foots part of this bill but monies come mostly from the county and the state, through the DEP- hence the fleecing of all of us on this deal. The key posts of the Center of NJ Life continuing series:
The Fleecing of Hamilton and NJ, Deal postponed, 41 lots not feasable, Klockner Woods, Deceptions, Wheeling and dealing, Lawsuit, Paying interest, Money flow