Open Space and Recreation Plan for the Township of Evesham, Burlington County, New Jersey

Total Page:16

File Type:pdf, Size:1020Kb

Open Space and Recreation Plan for the Township of Evesham, Burlington County, New Jersey The Delaware Valley Regional Planning The symbol in our logo is Commission is dedicated to uniting the adapted from region’s elected officials, planning the official professionals, and the public with a DVRPC seaal and is designed as a stylized image of the Delaware Valley. common vision of making a great region The outer ring symbolizes the region as a even greater. Shaping the way we live, whole while the diagonal bar signifies the work, and play, DVRPC builds Delaware River. The two adjoining consensus on improving transportation, crescents represent the Commonwealth of Pennsylvania and the State of promoting smart growth, protecting the New Jersey. environment, and enhancing the economy. We serve a diverse region of DVRPC is funded by a variety of funding sources incluuding federal grants from the nine counties: Bucks, Chester, Delaware, U.S. Department of Transportation’s Montgomery, and Philadelphia in Federal Highway Administration (FHWA) Pennsylvania; and Burlington, Camden, and Federal Transit Administration (FTA), the Pennsylvania and New Jersey Gloucester, and Mercer in New Jersey. departments of transportation, as well DVRPC is the federally designated as by DVRPC’s state and local member Metropolitan Planning Organization for governments. The authors, however, are the Greater Philadelphia Region — solely responsible for the findings and conclusions herein, which may not leading the way to a better future. represent the official views or policies of the funding agencies. DVRPC fully complies with Title VI of the Civil Rights Act of 1964 and related statutes and regulations in all programs and activities. DVRPC’s website (www.dvrpc.org) may be translated into multiple languages. Publiications and other public documents can be made available in alternative languages and formats, if requested. For more information, please call (215) 238-2871. TABLE OF CONTENTS ACKNOWLEDGMENTS .............................................................................................................. i. PUBLIC MEETINGS ................................................................................................................... iii. SECTION 1: EXECUTIVE SUMMARY ..................................................................................... 1 SECTION 2: COMMUNITY RESOURCES IN EVESHAM TOWNSHIP ................................. 5 2.1 INTRODUCTION ......................................................................................................................................... 5 2.2 NATURAL RESOURCES .............................................................................................................................. 6 2.3 HISTORIC RESOURCES ............................................................................................................................. 11 2.4 THE BUILT ENVIRONMENT ...................................................................................................................... 15 SECTION 3: OPEN SPACE GOALS AND EXISTING PLANS IN EVESHAM TOWNSHIP 19 3.1 GOALS OF THE OPEN SPACE AND RECREATION PLAN ............................................................................. 19 3.2 MUNICIPAL, COUNTY, REGIONAL, AND STATE PLAN CONSISTENCY ....................................................... 20 3.3 THE EVESHAM TOWNSHIP OPEN SPACE/RECREATION PROGRAM AND FUNDS ......................................... 29 SECTION 4: INVENTORY OF OPEN SPACE RESOURCES IN EVESHAM TOWNSHIP .. 31 4.1 PUBLIC LAND .......................................................................................................................................... 31 4.2 PRIVATE LAND ........................................................................................................................................ 34 4.3 PRESERVED LAND IN EVESHAM TOWNSHIP—SUMMARY ........................................................................ 36 4.4 EVESHAM TOWNSHIP POTENTIAL OPEN SPACE/PARKS SYSTEM INVENTORY ..................................... 36 SECTION 5: RECREATION ANALYSIS IN EVESHAM TOWNSHIP .................................. 37 5.1 EXISTING RECREATION FACILITIES ......................................................................................................... 37 5.2 RECREATION NEEDS ............................................................................................................................... 45 SECTION 6: OPEN SPACE AND RECREATION NEEDS IN EVESHAM TOWNSHIP ....... 49 SECTION 7: A COMPREHENSIVE PARKS SYSTEM FOR EVESHAM TOWNSHIP ......... 57 SECTION 8: LAND PRESERVATION/PROTECTION RECOMMENDATIONS .................. 65 SECTION 9: ACTION PROGRAM AND RECOMMENDATIONS ...................................... 123 SECTION 10: PRESERVATION TOOLS, FUNDING SOURCES, AND POTENTIAL PARTNERS ................................................................................................................................ 129 10.1 PRESERVATION TOOLS .......................................................................................................................... 129 10.2 FUNDING SOURCES ............................................................................................................................... 132 10.3 OTHER POTENTIAL PARTNERS IN OPEN SPACE PRESERVATION .......................................................... 148 SECTION 11: GREENWAYS AND TRAILS—PLANNING AND DESIGN RESOURCES 151 SECTION 12: SOURCES OF INFORMATION ...................................................................... 153 TABLES Table 1: Evesham Township National and State Historic Registers Sites ………………………14 Table 2: Population Estimates for Evesham Township, 2000-2010 …………………………….15 Table 3: Schools in Evesham Township ………………………………………………………...16 Table 4: Breakdown of Evesham School Enrollment by Age, 2000 ............................................ 17 Table 5: Evesham Township Recreation and Open Space Inventory (ROSI) ............................. 32 Table 6: Active Recreation Facilities/Fields in Evesham Township ............................................ 39 Table 7: Recreation Facilities/Fields/Parks by Township Study Area ......................................... 40 Table 8: Recreation Facilities by School ...................................................................................... 42 Table 9: Evesham Department of Recreation and Seniors Participant Numbers, 2010 ...………42 Table 10: Marlton Recreation Council Registration Totals by Sport …………………………...43 Table 11: Explanation of Tax Class Column ……………………………………………………66 FIGURES Figure 1: The New Jersey Pinelands Management Area .............................................................................. 6 Figure 2: Two Trails in the Black Run Preserve ......................................................................................... 38 APPENDICES A. Active Recreation Analysis Table A1 Evesham Township Recreational Needs Based on National Recreation and Park Association Guidelines Table A2 New Jersey Balanced Land Use Guidelines Table A3 New Jersey Balanced Land Use Guidelines Applied to Evesham B. Marlton Recreation Council Board Questionnaire and Responses C. Black Run Preserve Management, Education, and Recreation Plan D. Evesham Parcel Data Tables for Reference Table D1 Tax-Exempt Properties (Classes 15A, 15B, 15C, 15D, 15E, 15F) Table D2 Vacant Properties (Class 1) Table D3 Developed Properties over Five Acres (Classes 2, 4A, 4B, 4C) Table D4 Farmland-Assessed Properties (Class 3A and/or 3B) E. Maps Map 1 2007 Aerial Photo & Township Parcels Map 2 Land Use/Land Cover (2007) Map 3 Natural Features and Historic Resources Map 4 Groundwater Recharge Map 5 Landscape Project Habitat Priorities Map 6 Agricultural Development and Sewer Service Areas Map 7 Zoning Map 8 State Planning Areas Map 9 Existing Open Space Map 10 Proposed Parks System Evesham Township Open Space and Recreation Plan ACKNOWLEDGMENTS Funding for the preparation of this Open Space and Recreation Plan for the Township of Evesham was provided by: The Association of New Jersey Environmental Commissions (ANJEC) Smart Growth Assistance Grant Program, funded by the Geraldine R. Dodge Foundation; The Township of Evesham; and The Delaware Valley Regional Planning Commission. Township Council, Township of Evesham Mayor Randy Brown Deputy Mayor Steven Zeuli Councilwoman Deborah Hackman Councilman Kurt Croft Councilman Kenneth D’Andrea Members of the Planning Board of Evesham Township Mayor Randy Brown Jay Parikh Deputy Mayor Steven Zeuli Art Stengel Paul Cortland Stuart Platt, Attorney Robert DiEnna Chris Rehmann, Engineer Patricia Laverghetta H. Richard Orth, Traffic Engineer Eileen Lenihan Leah Fury, Planner Ted Lowden Behram Turan, Environmental Engineer Alicia Marrone Regina Kinney, Planning Board Secretary William McGoey Evesham Township Environmental Commission and Black Run Preserve Planning Committee members who served on the Open Space Committee Gary Toothman, Chair Bradley Sclar John Volpa, Vice-Chair Stephen Sobocinski Nick Italiano Arthur Stengel Robert Kelly Carmen Tierno Karen O’Neil Ila Vassallo Steffi Pharo Regina Kinney, Secretary Earl Phillips Special thanks to: The staff of various Evesham Township departments, including: Tom Czierniecki, Township Manager, who sparked and guided the project; Gloria Recigno, Township Manager’s Office; ` Evesham Township Open Space and Recreation Plan i. Terri Bracchi, Community Development Coordinator; Carlos Martinez, Director of Community Development; Nick Italiano, Department of Seniors and Recreation; Joe Rizuto, Evesham MUA;
Recommended publications
  • Where to Go Camping
    There was a statement in an older version of the Boy Scout Handbook that said: “Have you ever dreamed of hiking the wilderness trails that were worn down under moccasins hundreds of years ago? Do you hear in your imagination the almost soundless dip, dip of Indian canoe paddles or the ring of the axe of an early pioneer hewing a home out of the American wilderness? Have you followed with you mind’s eye the covered wagon on the trek across our continent? Yes, it’s fun to be a Boy Scout! It’s fun to go hiking and camping with your best friends…..to swim, to dive, to paddle a canoe, to wield the axe…..to follow in the footsteps of the pioneers who led the way through the wilderness…..to stare into the glowing embers of the campfire and dream of the wonders of the lift that is in store for you…” This is the heart of Scouting, but we don’t always know the best place to go on these outings. How better can the Order of the Arrow fulfill a part of their responsibility of service to others than to make this camping guide available? A great guide to the best camping, boating, hiking and sightseeing both in and out of the Council, but, of course, one of the best places to do real camping is at one of the Council’s reservations. Richard A. Henson or Rodney Scout Reservation, both long term camping during the summer months, or weekends through the year, affords a maximum of program.
    [Show full text]
  • Marcus Hook Borough Comprehensive Plan Task Force in the Preparation of This Document
    COMPREHENSIVE PLAN MARCUS HOOK BOROUGH Delaware County, Pennsylvania 2002 COMPREHENSIVE PLAN FOR THE BOROUGH OF MARCUS HOOK OCTOBER 7, 2002 Prepared for the citizens of the Borough of Marcus Hook by the Delaware County Planning Department This project was financed in part with funding from the Community Development Block Grant Program under Title 1 of the Housing and Community Development Act of 1974, P.L. 93-383 (as amended). Printed on Recycled Paper The logo was approved by Borough Council on February 3, 1992. It was designed to represent the overall character, culture, and history of Marcus Hook and incorporates the Borough’s motto “The Cornerstone of Pennsylvania.” The diamond shape represents the quality in the Borough. The Municipal Building façade was chosen as a unique Marcus Hook landmark. The people in front of it represent the diverse community support and the public/private partnerships which have contributed to the vitality of the Borough. The sunburst at the top shows the bright and promising future ahead. Wrapping the two sides are sycamore trees which are native to the Borough and reflect the new growth, attention to the environment, and concern for the beautification of the community. The straight and wavy stars and stripes lend a patriotic feel. The waves represent Marcus Hook’s proud beginning as a waterfront settlement. The five stars refer to the five star quality of life as well as the five war memorials throughout the Borough. BOROUGH OF MARCUS HOOK COUNCIL Albert Argentine, President Mervin Boyer, Vice President Jack Frieze Anthony Gallo Bernard W. Gallo Arthur Sutherland Joan Sylvester MAYOR George A.
    [Show full text]
  • Southern Pinelands Natural Heritage Trail Scenic Byway Corridor Management Plan
    Southern Pinelands Natural Heritage Trail Scenic Byway Corridor Management Plan Task 3: Intrinsic Qualities November 2008 Taintor & Associates, Inc. Whiteman Consulting, Ltd. Paul Daniel Marriott and Associates CONTENTS PART 1: INTRINSIC QUALITIES................................................................................................. 1 1. Introduction ............................................................................................................................. 3 Overview: Primary, Secondary and Tertiary Intrinsic Qualities............................................................ 3 2. Natural Quality ........................................................................................................................ 5 Introduction........................................................................................................................................... 5 Environmental History and Context...................................................................................................... 6 Indicators of Significance...................................................................................................................... 7 Significance as a Leader in Environmental Stewardship ................................................................... 17 The Major Natural Resources of the Pinelands and Their Significance............................................. 17 3. Recreational Quality ............................................................................................................
    [Show full text]
  • Advertising Rates TABLE of CONTENTS
    2017 18 PITTSBURGH CULTURAL DISTRICT Advertising Rates TABLE OF CONTENTS About the Cultural District .....................................1 Cultural District Demographics..............................2 Tier pricing Guide...................................................3 Advertising Opportunities ....................................4 Pittsburgh Ballet Theatre Pittsburgh Ballet Theatre Company...................6 Pittsburgh Ballet Theatre School .......................9 Pittsburgh CLO A Musical Christmas Carol ...............................10 2017 CLO Summer Season..............................11 Gene Kelly Awards 2017..................................11 The Cabaret at Theater Square .......................12 Pittsburgh Cultural Trust PNC Broadway ................................................14 Citizens Bank Children’s Theater .....................18 EQT Bridge Theater Series ..............................20 Pittsburgh Dance Council ................................22 Cohen & Grigsby Trust Presents Series ...........24 Trust Special Series .........................................29 Trust Cabaret Series.........................................30 Pittsburgh Opera..................................................32 Pittsburgh Public Theater.....................................36 Pittsburgh Symphony Orchestra BNY Mellon Grand Classics .............................40 PNC POPS........................................................45 ICON KEY Fiddlesticks Family Concerts............................47 Heinz Hall Specials...........................................48
    [Show full text]
  • Complete Streets Case Study Cherry Hill, New Jersey
    Complete Streets Case Study Cherry Hill, New Jersey Prepared by: Prepared for: The New Jersey Bicycle and Pedestrian Resource Center TheNew JerseyNew Jersey Complete Department Streets Case Studies| 1 at Rutgers, The State University of New Jersey of Transportation About This report was written by Charles Brown, MPA, James Sinclair, and Lisa Cintron, of the Alan M. Voorhees Transportation Center (VTC) at Rutgers, The State University of New Jersey. The Alan M. Voorhees Transportation Center (VTC) is a national leader in the research and development of innovative trans- portation policy. Located within the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, VTC has the full array of resources from a major research university on transportation issues of regional and national significance. The New Jersey Bicycle and Pedestrian Resource Center (BPRC) assists public officials, transportation and health professionals, and the public in creating a safer and more accessible walking and bicycling environment through primary research, education and dissemination of information about best practices in policy and design. The Center is supported by the New Jersey Department of Transportation through funds provided by the Federal Highway Administration. Alan M. Voorhees Transportation Center Edward J. Bloustein School of Planning and Public Policy Rutgers, The State University of New Jersey 33 Livingston Avenue, Fourth Floor New Brunswick, New Jersey 08901 Acknowledgments The authors would like to extend special thanks to Lorissa Luciani, PP, AICP, Deputy Director of the Department of Commu- nity Development, and Jaclyn Bradley, Cherry Hill Planner, for their invaluable insight into the history and implementation of Complete Streets in Cherry Hill.
    [Show full text]
  • Battling Mike Bloomberg Don’T Deliver Triumph in 2001 Over Democrat Mark Isn’T a Fluke,Even in a City Where NEW YORK, NEW YORK, P
    CNYB 10-06-08 A 1 10/3/2008 7:37 PM Page 1 TOP STORIES BUSINESS LIVES Project Onetime AIDS Runway’s L.A. star eclipsed by move miffs former employee New Yorkers PAGE 3 ® P. 39 Banker, comic top readers’ list of most influential VOL. XXIV, NO. 40 WWW.CRAINSNEWYORK.COM OCTOBER 6-12, 2008 PRICE: $3.00 PAGE 3 Bob Woodward, Bill O’Reilly books Battling Mike Bloomberg don’t deliver triumph in 2001 over Democrat Mark isn’t a fluke,even in a city where NEW YORK, NEW YORK, P. 6 Two decades in the cold? Green was chalked up to the terrorist at- Democrats comprise two- tack of Sept. 11. Their smashing re-elec- thirds of registered voters High Line and other Democrats face crucial test; tion victories were attributed to the pow- and dominate elected of- new parks buoy a plan for Thompson, Weiner er of incumbency. fices at every other level. surrounding areas But Mr. Bloomberg’s de- Two prominent De- INSIDE cision last week to seek a ocrats, City Comptroller BY ERIK ENGQUIST third term could make William Thompson Jr. and REAL ESTATE REPORT, P. 21 EDITORIAL It’s a long way it 20 consecutive Rep. Anthony Weiner, aim to to 2009 vote next year’s mayoral race will be a gut years without a return City Hall to Democrat- P. 12 check for the Democratic Party. Democrat ic hands even if Mr. 2009 INSIDER When Republican Rudy Giuliani up- running Bloomberg makes the bal- Scramble down set Mayor David Dinkins in 1993, it was the city.
    [Show full text]
  • HISTORY of PENNSYLVANIA's STATE PARKS 1984 to 2015
    i HISTORY OF PENNSYLVANIA'S STATE PARKS 1984 to 2015 By William C. Forrey Commonwealth of Pennsylvania Department of Conservation and Natural Resources Office of Parks and Forestry Bureau of State Parks Harrisburg, Pennsylvania Copyright © 2017 – 1st edition ii iii Contents ACKNOWLEDGEMENTS ...................................................................................................................................... vi INTRODUCTION ................................................................................................................................................. vii CHAPTER I: The History of Pennsylvania Bureau of State Parks… 1980s ............................................................ 1 CHAPTER II: 1990s - State Parks 2000, 100th Anniversary, and Key 93 ............................................................. 13 CHAPTER III: 21st CENTURY - Growing Greener and State Park Improvements ............................................... 27 About the Author .............................................................................................................................................. 58 APPENDIX .......................................................................................................................................................... 60 TABLE 1: Pennsylvania State Parks Directors ................................................................................................ 61 TABLE 2: Department Leadership .................................................................................................................
    [Show full text]
  • Accomplishments of State Preservation Programs
    The Accomplishments of State Preservation Programs A Compilation of Reports, Plans and other Studies Detailing Land Preservation, Farmland Preservation and Historic Preservation Accomplishments with State Funding in New Jersey A Project of the New Jersey Conservation Foundation in cooperation with New Jersey‐ Keep It Green Coalition Paper written by Elliott Ruga 4/15/09 Introduction The Garden State Preservation Trust (GSPT) is a national model for financing land conservation and one of the largest state‐run efforts ever launched in the United States. The GSPT serves as the financing authority to secure funds for the state Green Acres Program, Farmland Preservation Program, and the New Jersey Historic Trust. The accomplishments of the Trust as well as the economic and environmental benefits realized in New Jersey because of the GSPT are measurable and remarkable. Voters on November 3, 1998, approved Public Question #1 amending the New Jersey Constitution to dedicate $98 million a year from the Sales and Use Tax for land preservation, historic preservation and park development. The dedication began in 1999 and continues until 2029. The objective was to fund a ten‐year preservation program. The final 20 years of the dedication were in place to cover the debt payments on bonds that would be issued during the ten‐year acquisition program to finance the appropriation. The acquisition period ends in 2009. Yet the work of land and historic preservation is unfinished. Unmet needs remain, and taking care of the lands and properties already preserved is one of those pressing needs. To this end, the New Jersey Conservation Foundation in cooperation with the New Jersey‐ Keep It Green Coalition has developed a series of white papers about the statewide benefits, accomplishments and future needs for continued state funding for open space and farmland preservation, restoration and stewardship of natural and recreational areas, and historic preservation.
    [Show full text]
  • Manhattan Family October 2013 Features Columns 6 Beware the Pumpkin 30 Good Sense Eating How to Avoid a Common Halloween Horror by Christine M
    High School October 2013 MANHATTAN FREE Family Choices Where Every Child Matters 5 tips for high school admissions When you don’t approve of your child’s friends Understanding asthma PARENTING MEDIA�ASSOCIATION 2013 Gold Award Winner Editorial and Design Awards Competition Find us online at www.NYParenting.com MANHATTAN Family October 2013 FEATURES COLUMNS 6 Beware the pumpkin 30 Good Sense Eating How to avoid a common Halloween horror BY CHRISTINE M. PALUMBO, RD BY KIKI BOCHI 38 FabuLYSS Finds 8 Friend or foe? BY LYSS STERN When you disapprove of your child’s BFF BY RISA C. DOHERTY 40 The Book Worm BY TErrI SCHLICHENMEYER 10 Dress ’em up Halloween costume ideas for the craft 41 Downtown Mommy challenged BY NOTOYA GREEN BY SUE LEBRETON 42 Dear Dr. Karyn 12 Breathe easy BY DR. KARYN GOrdON Schooling yourself about asthma may help lower your child’s absences 43 Healthy Living BY DANIEllE SUllIVAN BY SUE LEBRETON 14 Bouncin’ at Barclays 44 Just Write Mom BY DANIEllE SUllIVAN Talented youngsters shine in Brooklyn Nets Kids Dance Team 46 Death by Children BY TAMMY SCILEPPI BY CHRIS GArlINGTON 20 16 Get involved! 47 Lions and Tigers and Teens Top tips for parents on being partners in their BY MYRNA BETH HASKEll child’s education this fall 48 Mommy 101 18 Real partnership BY ANGELICA SErEdA How to build a fruitful relationship with your child’s teacher 49 Divorce & Separation BY JENNY CHEN BY LEE CHABIN, ESQ. 20 Admission accomplished 58 New & Noteworthy Top-five tips for success with finding the right BY LISA J.
    [Show full text]
  • UD to Buy Chrysler Property for $24 Million
    Volleyball'first place in CAA, Commentary: A stigma with only one loss against English majors? seepage 28 _seepage 15 wre'lCOlTlew_ Check out the Web site for Tuesday, October 27, 2009 I breaki news and more. Volume 136, Issue 9 UD to buy Chrysler property for $24 million If approved, purchase will be largest ___ .. C.. Site Developmerat Concept single addition ever to Newark campus lf.lle'S of Activity BY STEPHANIE KRAUS don't mean for the next 10 years or and JOSH SHANNON the next 20 years. It's the next 100 The Review years of. the development of the The university has agreed to University of Delaware/' purchase the Chrysler Assembly The university's preliminary Plant for $24.25 million. If plans show the property split into approved by a New York bankrupt­ three main areas of use: corporate cy court, this purchase would be partnerships for _ research and the largest addition to the Newark development activities, a medical campus in university history. partnership with Thomas Jefferson President Patrick Harker University and improved public · announced that the 272-acre prop­ transportation by expanding on the erty on South College Avenue will Amtrak · station adjacent to the be used primarily for a research property. and technology park. "This piece of property is so "The size of this parcel of land big we can't even contempl-ate and its proximity to our main cam­ some of the things that -might go pus make this truly a once in a there in the -futur.e,'' university lifetime opportunity for the spokesman David Brond said.
    [Show full text]
  • A Model Program for Middle School Gifted and Talented Students
    DOCUMENT RESUME ED 209 805 EC 140 319 AUTHOR King, George L. TITLE A Model Program for Middle School Giftedand Talented Students. PUB DATE 18 Oct 80 NOT! 371p.; Ed.D. Dissertation, Nova University. EDRS PRICE MR01/PC15 Plus Postage. DESCRIPTORS Behavior Problems: *Counseling; *Curriculum Development; *Enrichment Activities; *Gifted: *Inservice Teacher Education; IntermediateGrades; Junior High Schools: Middle Schools;*Minicourses; Program Development; Program Evaluation; Talent ABSTRACT A model program was developed and implementedfor a Middle School population of 129 giftedand talented students in a suburban Philadelphia School System.Administrators, parents, students, regular, and special teacherswere involved. The model included a tutorial program for giftedunderachievers, a special counseling program for gifted studentsexperiencing disciplinary problems, and specially designed minicoursesdeveloped to meet the needs and interests of Middle School giftedstudents. A program of teacher training in giftedness and educationof the gifted was conducted. Avenues of communication.were established between gifted program teachers, parents, students, and regularprogram teachers; and an evaluation was undertaken at two stagesof program development. The academic aspects of the modelwere implemented in a second district secondary school the followingyear. (Appendixes include gifted program student selectionstandards, teacher inservice training information, gifted students' behavioralsystem forms, gifted students* tutorialprogram information, minicourse
    [Show full text]
  • Township of Lakewood in the County of Ocean, New Jersey
    PRELIMINARY OFFICIAL STATEMENT DATED JULY 25, 2012 NEW ISSUE RATING: S & P A+ BOOK-ENTRY ONLY (See “RATING” herein) In the opinion of GluckWalrath LLP, Bond Counsel assuming continuing compliance with the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), applicable to the Tax-Exempt Bonds and subject to certain provisions of the Code which are described herein, under laws, regulations, rulings and judicial decisions existing on the date of original delivery of the Tax-Exempt Bonds, interest received by holders of the Tax-Exempt Bonds will be excludable from gross income for federal income tax purposes and will not be treated as a tax preference item for purposes under Section 57 of the Code for individuals or corporations. Interest on the Tax-Exempt Bonds is included in the adjusted current earnings of certain corporations for the purposes of computing the alternative minimum alternative tax on such corporations. However, interest on the Tax-Exempt Bonds may become taxable retroactively if certain requirements under the Code are not complied with. Under the laws of the State of New Jersey, as enacted and construed on the date of original delivery of the Bonds, interest on the Bonds and any gain from the sale thereof is excludable from gross income under the New Jersey Gross Income Tax Act. See “TAX MATTERS” herein for a description of certain other provisions of the Code that may affect the federal tax treatment of interest on the Bonds. TOWNSHIP OF LAKEWOOD IN THE COUNTY OF OCEAN, NEW JERSEY $8,595,000* GENERAL
    [Show full text]