Mercer County Freeholders adopted a resolution Dec. 27 that made possible the transfer of the Woodward Farm, located on Marshall’s Corner-Woodsville Road in Hopewell Township, to a private owner.
The property was purchased through a public auction by Preservation Lands LLC for approximately $1.7 million. Closing on the property is anticipated to come Jan. 28.
The county acquired the Woodward Farm property once the home of Caroline E. Woodward and the late Donald H. Woodward for farmland preservation purposes. The farm has been deed restricted under the State Farmland Preservation Program and was resold subject to farmland preservation restrictions. These restrictions include the limitation of development on the property by the new owner, who will be permitted to construct only one additional farmhouse, not to exceed 4,000 square feet of living area, in a designated location on the property.
The county acquired the property for approximately $4.36 million. The State Agriculture Development Committee (SADC) contributed 65 percent of the value of development rights on 229.4 acres of the farmland. The remaining developments rights (35 percent) were absorbed by the county.
The proceeds from the public auction, in addition to the funds from the SADC, will serve to reimburse the county for the cost of the purchase. Furthermore, since the property now is privately owned, the farmland will no longer be tax exempt and will serve to increase the county’s tax base.
The county will retain approximately 78 acres of woodland, which will remain in its natural state. This portion of the property will possess public access.
"It gives me great pride to witness the imminent closing on this property," stated County Executive Bob Prunetti. "The proper preservation of our region’s open space continues to be a priority for my administration. The successful transfer of ownership of the Woodward Farm is yet another example of the stellar efforts of Mercer County’s Planning Division and the rest of my administration regarding our goal of farmland preservation."
