North Caldwell To Vote On Walker’s Pond Referendum: Election 2019

CALDWELLS, NJ — Would you support open space at Walker’s Pond in North Caldwell if it meant raising local property taxes? That’s the question voters will face in a public referendum on Election Day.

On Tuesday, Nov. 5, North Caldwell residents will vote on a proposal to create an open space trust fund to preserve a 17-acre parcel of land on Mountain Avenue known as Walker’s Pond.

On the local level, North Caldwell residents will also vote for borough council representatives and board of education members.

>> Caldwells 2019 Election Guide: Council, BOE Candidates

The property was the home of Elwood "Woody" Walker, sometimes referred to as the borough’s “first citizen.” Walker and his wife, Carlee, shared with the community for many years. Many longtime residents and those who grew up in North Caldwell can recall times skating on the pond and attending tree lightings there during the holidays.

North Caldwell purchased the property for $2.85 million about two years ago. Tuesday’s referendum will decide how much of the property will be used for open space. It will also determine how the town will pay back the cost of buying the land.

If the public question is approved, the owner of an average house assessed in North Caldwell at $673,000 would pay an additional tax of about $101 per year for a period of 15 years.

An interpretive statement on the Nov. 5 ballot provides more information about the referendum:

“This referendum will indicate to the Mayor and Council of the Borough of North Caldwell the sentiment of the voters concerning the creation of an Open Space Trust Fund for the use of preserving the entirety of the 17 acres of land at 400 Mountain Avenue, Block 606, Lot 1 (a.k.a. Walker's Property and Pond). This fund would collect a special municipal tax, the proceeds of which would be used solely for the preservation of open space in the Borough for purposes of preservation, restoration, recreation, conservation, farmland preservation, or historic preservation following a public hearing. The tax would be collected for 15 years, and then expire, unless extended by approval of such a proposition by public vote. The owner of a house assessed at $673,000 (the Borough's average) would pay an additional tax of approximately $101.00 per year, for a period of 15 years. The total amount the tax would yield each year, depending on the total valuation of all homes in the Borough, would be approximately $242,871.62. Presently, the Walker Property has been subdivided creating five (5) one-acre single family lots fronting on Meadow Lane. It can be anticipated that the sale of these five (5) lots could generate funds to be used to restore the Walker's Pond and Property, and to pay off indebtedness incurred in the acquisition of the Walker Property. Creation of an Open Space Trust Fund would raise funds to be used for these purposes at Walker's Pond and Property potentially without the sale of the five (5) lots. If the fund is not approved and created, the acquisition cost and cost of restoration of the Walker Property will be borne by municipal bonding, municipal operating funds, and/or the sale of the five (5) one-acre lots.”

The full public question reads:

“Shall the Borough of North Caldwell establish an Open Space Trust Fund which will be funded in the following manner for the following purposes: A. An Open Space Trust Fund shall be funded through the collection of local property taxes in an amount of $0.015 per one hundred ($100.00) dollars of assessed value per year for a period not to exceed 15 years, unless a proposition extending the same is approved by the voters. B. These funds shall be designated for the acquisition costs incurred, restoration and preservation of the entirety of the 17 acres of Borough-owned land at 400 Mountain Avenue, Block 606, Lot 1 (a. k. a. Walker's Property and Pond) as open space and to restore Walker's Pond and keep said land in its natural state and/or for recreational use and/or prevent the sale of five (5) one-acre building lots on the site.”

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