In March 2025, the Association was approached by GreenVest with a proposal to designate part of the LVWA community land as Protected Land. The plan involves collaborating with the Parkway and Turnpike to help them acquire additional land for classification as Protected Land. This initiative would require LVWA to grant an easement on undevelopable community land, enabling GreenVest to move forward with its wetland restoration and preservation project. It is important to note that this is not a purchase of the land; LVWA would retain title to it.
At that time, the Board of Trustees was presented with a Letter of Intent, which would allow GreenVest access to the site for further non-intrusive investigation during the study period. Once this study period concludes, GreenVest will provide LVWA with either an extension of the study period or a binding agreement that will include payment terms, conditions, indemnification, and specific language. This proposal, the “Letter of Agreement,” was approved by the Board of Trustees on July 2, 2025.
Ultimately, LVWA will be signing an NJDEP Conservation Easement upon reaching a binding agreement and closing, which is anticipated to occur sometime in 2026. In the meantime, the Association’s Attorney reviewed the GreenVest proposal and recommended consulting with an engineer to determine whether they have experience and to facilitate collaboration with our legal counsel. A metes-and-bounds description will be required to confirm the area in question and its acreage. Additionally, an appraisal must be conducted by a company that specializes in this type of easement.
Based on the Association Attorney’s conversation with FWH Associates, the Board of Trustees on November 5, 2025, has approved an expenditure of $4,200.00 from the Operating budget, sourced from the proceeds of the sale of 41A Edinburgh. FWH will conduct a comprehensive review of the property to evaluate potential environmental constraints regulated by the DEP. This review will include examining mapping, aerial imagery, topography, soil data, historic permitting records, and conducting a field visit.
If a price is agreed upon, the Association’s Attorney will draft a detailed agreement for the “area of interest,” outlining the permitted usage and criteria. The Attorney’s office is also recommending a bylaw amendment to authorize the grant of the easement by way of a rejection ballot.