Establishes fund for DEP for Blue Acres acquisition and relocation projects; appropriates $25 million.
Since its inception in 1995, New Jersey's Blue Acres program has significantly contributed to public safety and environmental conservation by acquiring lands that frequently experience flooding. The funds from S1624 will enhance the ability of the DEP to streamline the acquisition process, which has been criticized for its slow approval times. By improving these processes, the program seeks to ensure that residents can find comparable housing quickly, thereby minimizing the disruption caused by the loss of their homes.
Senate Bill S1624 establishes the Blue Acres Buyout Fund as a nonlapsing, revolving fund within the New Jersey Department of Environmental Protection (DEP), allocating $25 million from the General Fund specifically for acquisition and relocation projects related to flood-prone properties. The bill aims to assist homeowners and tenants who are displaced due to Blue Acres acquisitions. This program not only facilitates the purchase of properties prone to flooding but also provides necessary support to individuals and families who must relocate due to these buyouts.
In discussions surrounding S1624, proponents argue that the bill is a crucial step toward ensuring the safety and well-being of residents living in flood-prone areas. However, some opponents may raise concerns about the equitable distribution of funds and whether the appropriation will adequately address all affected communities. Notably, the bill provides that no more than five percent of allocated revenues can be used for administrative costs, which is intended to maximize the funding available for direct assistance.