Holmdel set to acquire Bachstadt tract for $1.8M Public hearing on acquisition of tract at Feb. 21 meeting BY ERIN O. STATTEL Staff Writer HOLMDEL- Plans aremoving forward for the township's acquisition of the Bachstadt property, which will be preserved as open space for residents to enjoywithout the threat of development. An ordinance approving the acquisition of the tract on Middle Road was introduced at the Feb. 7 Township Committeemeeting. The ordinance was approved, pending Councilman Larry Fink's reviewof the itemized listing of the engineering firm's fees for site evaluation services. According to the ordinance, the total purchase price is $1.83 million, with Holmdel's share being $250,000, half ofwhich is funded through grant money. The other financing sources include the PortAuthority ofNewYork andNewJersey, which will contribute $1.38 million toward the purchase price, Friends ofHolmdelOpen Space, which will chip in $100,000 and $100,000 in GreenAcres funds coming from The NewYork/New Jersey Baykeeper. According to Steve Coleman, spokesman for the Port Authority, that agency is partnering with the township on acquisition of the Bachstadt property as a part of its Hudson Raritan Estuary Resources Program. "The PortAuthority has $30million allocated for projects inNew Jersey for the Port Authority to purchase selected parcels of property that would be preserved for public use," Coleman said. "This piece of property came up as a good acquisition for our program." According toColeman, the PortAuthority purchases "environmentally precious" properties to offset some of the environmental issues involved with harbor dredging. Coleman also said that this is the first Port Authority purchase in Monmouth County and that the funding has yet to be approved by the Board of Commissioners of the Port Authority of New York and New Jersey, but that itmay appear on the board's meeting agenda, set for Feb. 21. According to the Holmdel ordinance, the township is requiring a simultaneous closing onMarch 15. Carl Bachstadt, the owner of Bachstadt's Tavern inMiddletown, owns the property up for acquisition. According to Bachstadt, who has served as co-chairman of the Monmouth County Republican Committee, he has had the 13- acre property since the early 1970s. According to the ordinance, Bachstadt will receive $1.56 million for the property. Holmdel Township had approved a development of six building lots on the property in October 2007. According to the ordinance, Pulte Home Corp. will receive $270,000 in reimbursements for previous engineering and legal costs incurred by the developer regarding the previous subdivision approval. The agreement between Bachstadt and Pulte provided that Pulte was free to assign development rights to a third party at the time of closing on March 15. Pulte will assign the rights to Holmdel Township. "It's a big victory for the people of Holmdel to purchase this property in conjunction with other agencies, costing residents little to nomoney at all," saidHolmdel Mayor Serena DiMaso. There will be a public hearing on the matter at the Feb. 21 committee meeting where it will be taken into consideration for final passage and adoption.