.In
the Spring of 1999, Hunterdon Land Trust Alliance helped David and Peggy
Dondero protect their historic Coryell Farm forever. The Donderos sold the
development rights, at a bargain price, on all but two acres of their historic
36-acre farm. The rights were sold to HLTA in partnership with the Delaware
& Raritan Greenway, a central NJ land trust that works to protect lands
along the Delaware & Raritan Canal and its tributaries, and the state
Green Acres program. All three partners retain an interest in the development
rights of the property.
HLTA is responsible for monitoring the easement that restricts the property
from development. On 17 acres of open fields and farmland, the easement
allows for agricultural use with no public access. On another 17 wooded
acres, public access is allowed. The farmhouse and two acres are excluded
from the agreement.
The historic property, formerly the estate of Cornelius Coryell, an aide
to General George Washington during the American Revolution, dates from
1750. It is environmentally significant, serving as a headwaters area
for a tributary to the D & R Canal, contributing to an international
flyway for migrating birds along the Delaware River corridor, and helping
to preserve the water quality of the canal, an important drinking water
source for central New Jersey.
Dr. Dondero explained how preserving the farm helped his family: "Just
because you have a big property doesn't mean you're rich. We had a big
mortgage on this place so we had to preserve it in a fashion that would
help us pay some bills and keep some assets for our children to inherit."
By selling the development rights to the property, the Donderos obtained
immediate cash, yet still own the property and can leave it to their children.
And since they agreed to a bargain sale, accepting less than the market
value for the development rights, the Donderos were eligible for a charitable
deduction from their income tax.
Since the 1800s, the once larger property has been whittled away to its
current size. Dr. Dondero said, "I wanted to stop the erosion so
it would always be a farm. The house is a special place and it needs the
property." He also talked about the need for open space for wildlife
habitat. A trail will be developed on part of the property for public
access. Dr. Dondero said that, "nobody really owns nature,"
and he and his family are happy to share their property with visitors
from Lambertville and beyond.