OCEAN TOWNSHIP - Ocean County will purchase land near the Waretown Lake Park for nearly a third the original asking price.
The county plans to purchase the 67-acre property located east of Waretown Lake for $725,000, Ocean County Freeholder John C. Bartlett Jr. said. The original asking price was $2.5 million.
"We're good negotiators. We've done appraisals on the 67 acres and real estate prices are lower than they were in the past," Bartlett said. "We pay at our appraisal price or less. Period."
Guido Aceto, of Lacey Township, is the seller.
Bartlett said the property is part of the Natural Lands Trust, an organization that seeks to preserve land. Money to purchase the property comes out of the 1.2 cent Natural Land Trust tax, he said.
The site was once the proposed for a residential development, Bartlett said.
He said the state Department of Environmental Protection's Green Acres program may help with the purchase.
"There is a possibility that we may receive a reimbursement from Green Acres of up to half the purchase price. We're very hopeful on that," he said.
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