New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 36 - GREEN ACRES PROGRAM
Subchapter 26 - STANDARDS AND PROCEDURES FOR COMMISSIONER AND STATE HOUSE COMMISSION APPROVAL OF THE DISPOSAL OR DIVERSION OF FUNDED OR UNFUNDED PARKLAND
Section 7:36-26.5 - Minor disposals or diversions of parkland; compensation
Current through Register Vol. 56, No. 18, September 16, 2024
(a) An applicant shall, except as provided at (a)3 below, compensate for a minor disposal or diversion of parkland with eligible replacement land or monetary compensation to be used for the acquisition of land for recreation and conservation purposes or parkland improvements. The minimum compensation required for the minor disposal or diversion of parkland is as follows:
(b) Monetary compensation for minor disposals or diversions of parkland required pursuant to (a)1, 2, 5 or 6 above shall be remitted to the Department by the applicant for deposit into the GSPT Fund. In the alternative, the Department may approve the use of the monetary compensation by the applicant for a parkland acquisition or parkland development project to be undertaken by the applicant and which is scheduled to be completed within six months of the approval of the minor disposal or diversion.
(c) A compensation proposal submitted under 7:36-26.4(d)5 shall include the following information:
American National Standards Institute
11 West 42nd Street
New York, New York 10036
(d) For the purposes of this section, the adjusted tax assessed value, market value of the parkland proposed to be disposed of or diverted, or value of the impact of an easement on the parkland shall be based on its highest and best use or the use intended for the land subsequent to its disposal or diversion, whichever would result in a higher value. In determining the adjusted tax assessed value, estimated market value of the parkland, or value of the impact of an easement on the parkland for purposes of this section, including for comparison to the minimum values in (a)1 or 2 above, Green Acres shall rely on:
(e) All replacement lands dedicated as parkland pursuant to (a)3 or (c) above as a result of the disposal or diversion of funded parkland, including lands purchased by the applicant with monetary compensation, shall be subject to the same Green Acres restrictions as funded parkland, and the deed for each replacement parcel shall incorporate the Green Acres restrictions by reference.
(f) All compensation proposed by the applicant under this section and accepted by Green Acres for application review purposes under 7:36-26.4(i) is subject to the approval of the Commissioner and the State House Commission.