[HISTORY: Adopted by the Township Committee
of the Township of Elk 3-6-2003 by Ord. No. O-2-2003.[1] Amendments noted where applicable.]
[1]
Editor's Note: The following nonbinding public
question was placed on the November 5, 2002, election ballot: "Are
you in favor of the annual appropriation of a sum equal to the rate
of $0.1 per $100 assessed valuation per year in the Elk Township Municipal
Budget to contribute toward the purchase of Open Space and Farmland
Preservation Easements in Elk Township." The voters of Elk Township
approved the question.
The intent of this chapter is to establish a
Farmland Preservation and Open Space Assistance Trust to encourage
retention of farmland and open space by placing into each annual budget
an amount equal to $0.01 on the tax rate. This Trust Fund shall be
used to encourage landowners to apply for the State and County Farmland
Preservation Program and help them gain additional qualification points
by allowing them to agree to a lower per acre price (called a bid
down) than that established by the State Program Approved Appraiser.
Payment shall be limited to those landowners accepted into the State
and County Program for Permanent Farmland Preservation. This Trust
Fund will also be used to acquire open space in the Township of Elk.
A.
Each year the Elk Township Committee shall place in
the annual municipal budget an amount up to $0.01 on the tax rate.
The amount to be raised shall be determined by the Elk Township Committee
and verified by the Elk Township Auditor.
[Amended 8-5-2010 by Ord. No. O-2010-43]
B.
The Elk Township Chief Financial Officer (CFO) shall
establish and maintain an Elk Township Farmland Preservation and Open
Space Trust Fund by using the amount placed in the final adopted annual
budget to fund this program. The CFO shall make monthly reports to
the Township Committee regarding the balance status of the trust.
[Amended 4-1-2010 by Ord. No. O-2010-15]
C.
This Trust Fund shall retain all interest earned for
program use.
D.
There shall be no money dispensed from this fund until
an amendment to this chapter or a separate chapter has been established
and approved that sets forth the qualifications, procedures, payment
formula and pay out method for permanent farmland preservations assistance
and open space acquisition.