Oakwick Case Study

The acquisition of this property would result in the implementation of a new department, staffing, maintenance, additional sewer costs, etc. Partnering with other governmental agencies while retaining authority over the development of the property would be a better solution than incurring additional costs when the full effect is unknown. Oakwick’s revenues will be negatively impacted by changes in population, and there will be approximately five hundred residents and a major employer leaving our community. A majority of Oakwick’s revenue is property and income taxes which helps pay for essential services, road and bridge maintenance. There will be at least 500 households leaving Oakwick, this is 3% of the population, but the bigger effect is the 13% (2,000 employees) of the population that purchased food, gas, supplies, and other contributing fiscal
An assessment of population demographics and a progressive study would illustrate the inflationary impact this expenditure may have on the fiscal health of the town. The Township needs to ensure they have funds available to pay their everyday bills, and take into consideration the decline in revenue that will occur shortly. To fund this property Oakwick may end up causing an increase in property taxes which would further compound the anticipating exodus. Another viable option may be to partner with the state conservation and natural resource division in preserving the land or with the county. There are a plethora of open land grants that may assist Oakwick in maintaining the property. If the state has funding such as the Green Acres fund in New Jersey, the acquisition of the land would be wholly supported through this project. There are nonprofit land trust organizations that preserve open spaces. A grant proposal would need to be written, but the first step would be to partner with non-profit organizations and local