By William Sokolic
The properties stick out by omission.
No houses. Just grass lots, waiting for a future on 22nd Avenue, Longport.
You don’t see that kind of open space in a town where houses are often mere feet from each other.
Folks would pay a handsome price for either lot if they were on the market. But they’re not and they won’t be. Dorothy McGee owned the two lots, along with an adjacent house.
Dorothy, who passed away Nov. 18, bequeathed the lots to the borough with instructions to convert them into a park in perpetuity with her name on it. She also included explicit directions for a 3 feet high fence, and a gazebo, among other details.
“It is my understanding that she loved Longport and wanted to have a park with open space in her name,” said borough solicitor, Michael Affanato, who cannot recall a similar donation in Longport.
On Feb. 21, the borough will vote for or against the bequeathment. The vote is expected to be a resounding yes in favor, said Mayor Nick Russo.
It’s a generous donation, but it also deprives the borough of property taxes if a nice size house or two could plop down there. Not only does the borough lose the tax haul, but it also cost the town for construction of the park and the maintenance moving forward. But that’s okay. It’s still a nice gesture.
“It is unusual,” Russo said. “This is my 16th year with Longport, and I don’t get surprised. But this caught me off guard. I had no inkling.”
This type of transaction—bequeath an asset, even vacant lots—is often done by high-wealth individuals, said Michael Busler, Ph.D., professor of finance, Stockton University. “This action does reduce the value of the estate that is passed on to the heirs.”
The McGee family is thought to be on board with the decision. “The advantage is a tax liability reduction and sometimes it minimizes any disputes family members may have. If a parent leaves an asset to a child often the other children could be upset because they did not receive the asset,” Busler said.
The resolution was on the agenda for the Jan. 17 borough meeting. But it was withdrawn then.
“The resolution was withdrawn for me to work out deed restriction language with the estate attorney,” Affanato said.
Russo said, “Our attorney will make sure all the language in it will be able to abide by her wishes.”
The borough will have to spend thousands of dollars to construct what is needed, like benches, walkways, fencing and landscaping. A sign. And don’t forget the gazebo. A bike rack to encourage biking over to the park. Then the park must be maintained which means an expense must be budgeted annually.
Russo believes the project can be done in-house. Public Works can purchase the material. “We must make sure there is nothing we can’t accomplish. Signage, the gazebo. In government we cannot just move money around,” he said.
Neighbors even pledged to help financially. And why not? Less congestion is one advantage of a park.
The advantage to the borough is that they get a sizable piece of ground in an excellent location that will provide a park for residents well into the future. And they could provide this at a much lower cost than if they had to purchase ground for a park, Busler said.
“I don’t know what other heirs Dorothy had or the value of her estate. But she wanted the town to remember her after she passed. A park will be constructed and somewhere it will be displayed that the park is a result of the generous donation by Dorothy McGee,” Busler said.
Russo estimates that each lot carries a worth of at least $1.7 million. Once a re-eval or re-assessment is conducted, each could be worth $2.5 million, undeveloped.
Still Russo said supporting the request is a no brainer. “I definitely will vote yes.”
Given the property value in Longport, taking these lots off the books doesn’t mean that much, Russo said. “I’m anxious to see what the finished product is.”
William Sokolic is a veteran journalist who has written for daily, weekly and monthly publications. He’s covered a wide range of news, features and entertainment stories. Much of his work concerns tourism, Atlantic City, and the gaming industry.
