Robert
A. LeCompte of Lebanon, Hunterdon County, is the
new owner of the permanently preserved, former
Barrett Farm in Union Township, Hunterdon County.
Mr. LeCompte placed the high bid as the State Agriculture
Development Committee (SADC) sold the farm today
at public auction. The SADC had purchased the 150-acre
farm for $1.1 million last month. Union Township
contributed $200,000 toward that cost and Hunterdon
County provided $100,000. The SADC added deed restrictions
to permanently protect the property for agricultural
use before reselling it today. Mr. LeCompte, the
owner of Valley Crest Farm in Lebanon, purchased
the Union Township Farm for $450,000. The SADC
had purchased the former Barrett Farm through its
fee simple program. Under this program, the SADC
buys farms outright from willing sellers, deed
restricts them to ensure that they are permanently
preserved for farming, and then resells them to
the highest bidders. Proceeds from today's auction
will be returned to the Farmland Preservation Program
and used to preserve other New Jersey farms.
To
date, 418 farms totaling 62,210 acres have been
permanently protected under the Farmland Preservation
Program, with an additional 14,862 acres approved
for preservation. |
