Assembly Panel Advances Blue Acres Bonding
By Phil Gregory, WBGO News
Trenton. December 10, 2012
A New Jersey Assembly committee has advanced legislation that would provide more money to buy out homeowners in flood prone areas.
The measure would authorize the state to issue 100 million dollars in bonds for so-called Blue Acres projects. If voters approve the bonding, most of the money would be used to buy homes, demolish them, and have the land preserved or used for recreation.
Assemblywoman Connie Wagner says 15 million dollars would be allocated for some homes to be elevated.
“Some property owners don’t want to leave their communities, and they know that if they elevate the homes that they will be okay. We also know that municipalities are in fear of losing all of their assessments. They need to have their tax base.”
Environmental groups support the legislation but prefer that it be combined into a bond act that would also provide money for other land preservation programs.