The Monmouth County Board of Freeholders has taken action to purchase a 140-acre parcel in Howell and to add the land to the Manasquan Reservoir.
The Pinnacle Materials Inc. tract, West Farms Road, has been the focus of attention in Howell for more than a decade.
During a meeting on Feb. 27, the freeholders authorized the acquisition of the property at a cost of $10.8 million. The freeholders said a formal offer of purchase has been accepted, subject to a satisfactory title review and environmental review of the property.
Funds for the purchase of the Pinnacle tract are covered under the Monmouth County Open Space, Recreation, Floodplain Protection, Farmland and Historic Preservation Trust Fund, according to a resolution.
The purchase of the property was recommended by the Monmouth County Board of Recreation Commissioners for county open space preservation, natural resources conservation and public park and recreation purposes, according to the resolution.
In a message he posted on his Facebook page, Howell Councilman John Bonevich wrote, “On Nov. 7, 2017, Monmouth County voters approved additional funding for the open space and recreation fund.
“Over the last year, the Howell Township Council has purchased numerous parcels and will continue to purchase more in the upcoming year. I am happy to say the Monmouth County freeholders will use part of their funding to purchase the Pinnacle property on West Farms Road for additions to the Manasquan Reservoir.
“For as long as I am on the Howell council, I will continue to work to preserve as much open space as possible. Open space provides us places for recreation, preserves our environment, protects us from overdevelopment and will help maintain the quality of life we are all used to,” Bonevich wrote.
As far back as May 2006, Howell officials were discussing the Pinnacle property, according to published accounts.
After initially planning to purchase the tract, members of the Township Council decided not to pursue the purchase of the land for open space preservation purposes, according to previous articles.
The Pinnacle property, which Howell Mayor Joseph DiBella called “the crown jewel of our open space strategy,” was the second component of an expected two-part land purchase. The first piece of the plan saw a property known as the Harms parcel become the property of Howell.
The Harms and Pinnacle properties combined are 300 acres between West Farms and Georgia Tavern roads.
Council members abandoned proceedings regarding Howell and Pinnacle Materials Inc., according to the previous accounts.
Originally, $18 million was appropriated for the purchase of the two properties – Harms and Pinnacle. The Harms parcel was purchased for a little more than $12 million, leaving about $6 million available for the Pinnacle tract.
Since Howell officials were moving to acquire the land through eminent domain, the township’s chief financial officer estimated the condemnation commissioners would award Pinnacle’s owners $8.7 million.
However, the condemnation commissioners’ report came in with a $12.5 million price for the Pinnacle tract.
In 2011, a published article reported Howell officials were still haggling over the Pinnacle property, which was the subject of litigation by that time.
Today, the county freeholders expect to pay $10.8 million to acquire the Pinnacle Materials Inc. property.