Quote: In appraisals, an entity is assessed at its highest or best use to maximize value and increase revenue. However, the value of an entity at its highest or best use may not be greater than the value of an entity in its present use if recommendation is required to convert the entity to a different use.
Let us take this concept Highest Best Use HBU and follow some logic; linking it to our Municipal Open Space Tax taken by Parsipany. If for example for Waterview landscape to be sold to RDR by the private party of ownership it requires, “rezoning” then this should open Pandora’s box for all aspects of rezoning, including public open space or land preservation, because of its “natural capital resource assets” as an aquifer recharge area or simply adding beauty and peace to the surrounding community adding to rather than detracting from the quality of life.
Then this option should also be available. The present dilemma is allowing a private source to gain “unreasonable profit” at the expense and against the will of the community.
If Waterview was rezoned for Land Preservation the owner would still profit. Being zoned for office space being no longer feasible or needed. It is also true another shopping maul with additional impervious surfaces in a wetland transition zone is also not needed or wanted. The most disturbing part of this whole unjust ordinance proposal is that we have Municipal leaders advocating against State of New Jersey Smart Development Criteria. This is an open display of setting a bad example and in open defiance of Parsipanny’s citizens.
Let the argument be made that paying the Municipal Open Space Tax makes us players in the process of rezoning and advocates of adherence to the State Smart development criteria. This way we all can win and RDR although out of the picture; allows the property owner a reasonable good profit. Land of this proportion should belong to the whole and not the part. Rezoning Ordinance spells legal theft of American Landscapes. Before we lose the place we love wake-up Town Council.
Nicholas Robert Homyak