[HISTORY: Adopted by the Town Council of the Town of East Hampton 10-26-1999 (Ord. No. 1.10). Amendments noted where applicable.]
It is recognized that pursuant to C.G.S. § 7-131r there is hereby established the Open Space, Land Acquisition and Preservation Fund (the "fund"), which shall be used solely for the purposes of the preservation of open space and the acquisition of land (or any interest in land, including, but not limited to, conservation easements and development rights) to be used for open space or recreational or housing purposes. The fund shall not lapse at the close of the municipal year.
There shall be deposited into the fund such sums as (a) the Town may, from time to time, appropriate for that purpose as part of its Capital Improvement Program, (b) funds acquired by the Town, whether by gift, bequest, grant or otherwise, solely for the purposes to be served by the fund, and (c) all monies appropriated to said fund. The total of all deposits into the fund in any one fiscal year (exclusive of gifts, bequests and grants) shall not exceed that amount which would be generated by the imposition of a tax of two mills against all of the property subject to tax in East Hampton as shown on the last complete Grand List. The Town shall also investigate on a continuing basis the availability of any state and federal monies available for land acquisition and development rights.
The following types of land may be considered for acquisition:
Land that has recreational value; or
Land that has development value for Town parks or playgrounds, or recreational facilities; or
Land that has significant scenic, topographic, conservation or wilderness value based on the characteristics of the land; or
Land that has significant historical, cultural or archaeological value.
The Town Council shall have the exclusive authority to identify those parcels of land, interests in land, and/or development rights to be recommended to the Town Meeting for acquisition. All such recommendations from the Town Council shall be consistent with the purpose for which the fund is created. Appropriations from the fund shall be made only upon approval of the Town Meeting following recommendation of the Town Council, and review by the Planning and Zoning Commission pursuant to C.G.S. § B-24, and Board of Finance approval.
Any ordinance or resolution authorizing the purchase or sale of any interest in land, including but not limited to easements and development rights, shall be acted upon by Town Meeting, after approval by the Board of Finance. When the public hearing is to be held, the Town Council shall cause notice to be published at least 10 days prior to said public hearing in a newspaper having substantial continuous circulation in the Town.
The fund shall continue in existence until such time as an ordinance amends or discontinues same. Upon dissolution of the fund, any remaining balances shall be paid over into the general fund or such other fund as the ordinance terminating said fund shall direct.