N.J. Admin. Code § 3:42-3.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:42-3.5 - Purchases of Pinelands Development Credits in association with conservation or agricultural easements

(a) In the event that any county or agency thereof proposes to acquire a conservation or agricultural easement which restricts the use of property in a manner consistent with 7:50-5.4 7 and the Pinelands Development Credits which are allocated to the property so restricted, the Executive Director shall be authorized to issue the Pinelands Development Credit Certificate when settlement on the easement occurs.

(b) In the event the Board determines to purchase Pinelands Development Credits pursuant to 3:42-5.1 et seq., it may authorize the Executive Director to complete the purchase, including the issuance of the Pinelands Development Credit Certificate, in association with the placement of the requisite restriction on the deed to the property.