ASSEMBLY, No. 2994

 

STATE OF NEW JERSEY

 

INTRODUCED MAY 22, 1997

 

 

By Assemblymen WOLFE, GIBSON, Blee, Connors, Azzolina, Assemblywoman J. Smith, Assemblymen LeFevre, Holzapfel and Moran

 

 

An Act appropriating $5,008,000 from the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, and authorizing the use of certain interest earnings and loan repayments, to assist local government units to acquire certain lands in the coastal area for recreation and conservation purposes.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1.    There is appropriated to the Department of Environmental Protection from the "1995 New Jersey Coastal Blue Acres Trust Fund" established pursuant to section 27 of the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, the sum of $5,008,000 to provide loans or grants, or both, to assist local government units to acquire, for recreation and conservation purposes, unimproved or largely unimproved lands in the coastal area that may be prone to incurring damage caused by storms or storm-related flooding, or that may buffer or protect other lands from such damage, in accordance with the list of projects approved as eligible for such funding pursuant to section 5 of this act, and which sum shall include administrative costs.

 

    2.    There is appropriated to the Department of Environmental Protection such sums as may be or become available on or before June 30, 1998, due to interest earnings or loan repayments, in the "1995 New Jersey Coastal Blue Acres Trust Fund," for the purpose of making loans or grants, or both, to local government units for the projects listed in section 5 of this act and for the purpose of administrative costs associated with any such projects.

 

    3.    Pursuant to the provisions of paragraph (3) of subsection a. of section 12 of the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, all loans made to local government units with moneys appropriated pursuant to this act shall bear interest of not more than 2% per year and shall be for a term of not more than 20 years. All principal and interest payments repaid by the local government units shall be deposited into the "1995 New Jersey Coastal Blue Acres Trust Fund" in accordance with the terms of a written loan agreement. The terms of the loan agreement shall be completed and executed on a form approved by the State Treasurer or his designee.

 

    4.    The expenditure of the sums appropriated by this act is subject to the provisions and conditions of P.L.1995, c.204.

 

    5.    a. The following projects are eligible for funding with the moneys appropriated pursuant to sections 1 and 2 of this act:

 

Local

Government Unit


County


Project

Approved

Amount

 

 

 

 

Absecon City

Atlantic

Blue Acres Acq.

$ 257,000

Middletown Twp.

Monmouth

Leonardo Open Space Acq.

$ 190,000

Oceanport Boro

Monmouth

Horseneck Point Acq.

$ 605,000

Union Beach Boro

Monmouth

Waterfront Acq.

$ 300,000

Brick Twp.

Ocean

Ocean Falls Acq.

$ 15,000

Brick Twp.

Ocean

Riverside Park Acq.

$ 119,000

Brick Twp.

Ocean

Barnegat Bay South Acq.

$1,222,000

Long Beach Twp.

Ocean

Oceanfront Acq.

$ 300,000

Seaside Heights Boro

Ocean

Beachfront Acq.

$2,000,000

 

    b.    Any transfer of funds, change in project sponsor, or change in project site or type listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.

    c.    To the extent that moneys remain available after the projects listed in subsection a. of this section are offered funding pursuant thereto, those projects shall be eligible for additional funding, including administrative costs, utilizing those remaining moneys, in a sequence consistent with the priority system established by the Department of Environment Protection, and with the approval of the Joint Budget Oversight Committee or its successor.


    6.    This act shall take effect immediately.

 

 

STATEMENT

 

    This bill would appropriate $5,008,000 from the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995," P.L.1995, c.204, and authorize the use of certain interest earnings and loan repayments, to provide low-interest loans or grants, or both, to assist local government units to acquire, for recreation and conservation purposes, unimproved or largely unimproved lands in the coastal area that may be prone to incurring damage caused by storms or storm-related flooding, or that may buffer or protect other lands from such damage. The sum appropriated would include administrative costs. The projects for which the appropriation is being made are listed in the bill.

    The "Blue Acres" program for the coastal area was created by the "Green Acres, Farmland and Historic Preservation, and Blue Acres Bond Act of 1995." In the bond act, the sum of $6 million was allocated under the program for "pre-storm" acquisitions of (1) lands vulnerable to flooding or other storm-related damage, or (2) lands that buffer or protect such flood or storm damage prone lands. Under the "pre-storm" portion of the program, a local government unit may receive a grant for up to 75%, and a loan for the remaining percentage, of the cost of acquisition of such lands. This bill would provide the first appropriation from the bond act for this new program.

 

 

                             

 

Appropriates $5,008,000 from 1995 Green Acres bond act for coastal Blue Acres acquisition projects by local government units.