Lower Makefield Township voters decided to spend $15 million to preserve open space in town on a ballot question Tuesday by a 2 to 1 margin.
The ballot question “the preservation of environmental areas and open space for passive recreational purposes and benefits within the township,” according to a resolution approved by township supervisors.
Township officials said if the $15 million is paid back over 25 years at current interest rates, the cost to residents would be a little more than $82 yearly on the average home assessment of $43,600.
The for/against question was created by supervisors in July to address whether funding can be used “to purchase, place easement on, and buy the development rights for undeveloped land.”
Now up to 30 percent of the borrowed funding, or $4.5 million, can be used to improve or maintain undeveloped land. It aims to preserve “environmentally sensitive areas, natural resources, historic land, passive recreation, and cultural purposes.”
No specific projects have been determined, officials said who added the township’s 2020 Open Space Plan remains relevant in part as a guide.
Township officials said if the full $15 million is paid back over 25 years at current interest rates, the referendum would cost residents $82.36 a year for the average home assessment of $43,600.
No specific projects have been determined, according to township officials, who added the township’s 2020 Open Space Plan remains relevant in part as a guide.
The “Yes” or “No” question – it was established in July by supervisors — addresses whether funding can be used “to purchase, place easement on, and buy the development rights for undeveloped land.”
Under the approved referendum appearing on the ballot, up to 30 percent of the borrowed funding, or $4.5 million, can be used to improve or maintain undeveloped land. It aims to preserve “environmentally sensitive areas, natural resources, historic land, passive recreation, and cultural purposes.”
The 30 percent mark was to ensure the majority of borrowed money went to purchasing open space land for preservation,. officials said when explaining the impetus for the number.
Various options will be explored including bonds and a bank loan, officials said,
According to the referendum, the decision-making process will take place during public meetings of the supervisors, who ultimately make the decisions.
Lower Makefield is a little more than 18 square miles and has a population of 33,180.
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