COLTS NECK – A $250,000 grant Colts Neck officials hope to use to acquire a property has been awarded to the municipality by Monmouth County.
Township Committee members announced the receipt of the grant during a recent meeting. The money comes from the county’s municipal open space grant program.
The property municipal officials are considering is known as the DeAngelis parcel, which is about 6 acres and lies between Five Point Park and two baseball fields at the intersection of Five Points Road and Route 537. There is access to the DeAngelis property, the park and the baseball fields from Five Points Road.
The DeAngelis property has three structures on it and municipal representatives are negotiating with the property owner for a possible purchase.
The township was awarded the maximum grant for which it was eligible. The terms of the grant state that money will be awarded up to $250,000 or half of the assessed value of the property, whichever is lowest. The property is assessed at about $690,000, according to municipal officials.
“We have been trying to acquire that (parcel) since before I joined the Township Committee and it is going to complete (Five Point Park) once we have the opportunity to do that,” Committeeman Russell Macnow said. “I know our township attorney has been working hard with the current owner of the estate to complete the transaction and now we have $250,000 of the price covered.”
“We are delighted Colts Neck participated and was granted the money and there is no reason why they can’t come back again,” Monmouth County Freeholder Director Lillian Burry said.