Created on Wednesday, 27 April 2011 10:22
The New Hanover Township Supervisors have approved borrowing $3 million to buy about 66 acres of land off route 663, behind the municipal building and next to the township’s Layfield Park. They are buying the land from Wassamer Development, part of the Gambone Group. A 200-unit housing development approved for the site has been stalled because of the slumping housing market, so the company agreed to sell it to the township, which is preserving the land as open space. It will pay off the loan with the proceeds of a .15 percent increase tacked onto the earned income tax in 2006, after the voters approved dedicating that part of the tax to open space preservation.