Green Acres and Financing Program Hold Land Acquisition Workshops

Each year the DEP Green Acres Program holds informational workshops around the state to assist municipal and county officials, and nonprofit organizations in protecting open space, providing recreational facilities, and providing effective land stewardship programs that will ensure the quality of our environment for future generations. This year, Green Acres experienced an overwhelming demand for open space acquisition funding. To help meet this demand for funding, applicants who plan to purchase land that helps protect or maintain water quality can also apply to the New Jersey Environmental Infrastructure Financing Program (EIFP).

Green Acres provides grants and low-interest loans to qualifying county and municipal government agencies and nonprofit land conservancies. The size of Green Acres' grants each year are limited by funds allocated through the Garden State Preservation Trust Act. Grants in the last funding round were capped at around $400,000. The EIFP loan amount is not limited and its loans can be used as the local match for Green Acres funding.

Recent changes will enhance smart growth initiatives by offering EIFP loans at lower interest rates for certain categories of borrowers and projects. Borrowers can now finance their land acquisition activities with a more favorable combination of funds (75 percent at zero interest from DEP and 25 percent from the NJ Environmental Infrastructure Trust AAA bond proceeds). The EIFP can provide preaward approval provided the appropriate project approvals are obtained from DEP and the Trust prior to closing on the parcel. The Trust also offers short-time financing at very favorable rates.

In addition to open space acquisition, the EIFP can provide low-interest loans to local government units and private water purveyors for the construction of a wide variety of wastewater, drinking water, and stormwater/nonpoint source pollution management projects.

The four information workshops are scheduled from 9:00 AM to 3:00 PM on the following dates and locations:

A $25 registration fee includes materials, refreshments and lunch. To register for the workshops, please contact Nancee May, Coordinator, Green Acres Program at (609) 984-0570. Questions regarding the EIFP should be directed to Scott Shymon, Supervisor, Program Development and Land Unit, at (609) 292-3859.