Dondero Farm

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In spring 1999, Hunterdon Land Trust Alliance (HLTA) protected the historic Coryell Farm owned by David and Peggy Dondero in Lambertville.
HLTA partnered with D&R Greenway, a central New Jersey land trust, and the New Jersey Green Acres Program to purchase the development rights at a bargain price on all but two acres of the historic 36-acre farm. The development rights were retired through a conservation easement held by the three partners.
HLTA will monitor the easement, which provides for public access on 17 wooded acres, where a trail will be developed, and allows for continuing agricultural use with no public access on the open fields. The farmhouse residence and surrounding 2 acres are excluded from the agreement.
The historic property dates from 1750 and was formerly the estate of Cornelius Coryell, an aide to General George Washington during the American Revolution. Environmentally significant, the land serves as a headwaters area for a tributary draining to the D&R Canal and the Delaware River and provides habitat to support the international flyway for migrating birds along the Delaware River corridor. Preserving the land helps to protect the water quality of the D&R Canal, an important drinking water source for central New Jersey.
Dr. Dondero explained how preserving the farm helped his family. "Since the 1800?s, the once larger property has been whittled away to its current size. I wanted to stop the erosion so it would always be a farm. The house is a special place and it needs the property.
Just because you have a big property doesn't mean you're rich. We had a big mortgage so we had to preserve the land in a fashion that would help us pay some bills and keep some assets for our children to inherit.?
By selling the development rights, the Donderos obtained immediate cash, yet still own the property and can leave it to their children. And since they agreed to a bargain sale, accepting less than the market value for the development rights, the Donderos were eligible for a charitable deduction from their income tax.
The Donderos are happy to share their property with visitors from Lambertville and beyond, providing the public a place to enjoy the beauty and historic landscapes of Hunterdon County. |
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