Else tract preservation to cost more than anticipated

Deal could total as much as $2,725,000.

By John Tredrea
   The Hopewell Township Committee has introduced an ordinance amendment that would permit spending $200,000 more than originally planned to preserve about 65 acres off Route 31 as open space.
   If all of the additional $200,000 is spent, it would bring the total cost as high as $2,725,000. The money would come from the township’s open space tax revenues.
   The committee took action on the measure at its Jan. 16 session and is expected to take final action, following a public hearing, on Feb. 6.
   The committee voted unanimously on Nov. 1 to spend up to $2,525,000 on the 60-odd acres, owned by the Else family. The land is on the eastern side of Route 31, just south of the Route 654 junction. The Pennytown Shopping Village is just north of that intersection.
   The amendment introduced Jan. 16 states that, since Nov. 1, "appraisals obtained of the subject property have resulted in a value and purchase price of the property greater than originally anticipated."
   The money spent by the township on the Else tract would include all engineering, surveying, title work and legal costs in addition to the cost of the land itself.