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Credit Clearinghouse Board

To implement the Pine Barrens Credit Program, the Central Pine Barrens Joint Planning and Policy Commission created the Credit Clearinghouse, which is administered by a five-member Board of Advisors.  The Governor and the municipal members of the Commission each appoint one  member of the Board who serve without compensation. The Commission appoints the chair and vice chair of the Board.  The Clearinghouse issues credits, pursuant to the adopted allocation formula contained in the Central Pine Barrens Comprehensive Land Use Plan, and monitors the use of credits in receiving areas. The credit allocation for a parcel may be appealed by its owner or their representative to the Commission. The Commission also determines the legal sufficiency of conservation easements placed on parcels that participate in the credit program pursuant to the land use plan.

The Clearinghouse issues and maintains a registryDSCN1296 of credit certificates for sale, a list of interested purchasers, a record of credit certificate transactions and information on credit certificates that have been redeemed or retired (a credit is retired when it is withdrawn from circulation without having been redeemed).  The Clearinghouse assists buyers and sellers of credits in completing private transactions and provides information on recent sales of credits. (Photo: Prosser Pines County Park)

The Clearinghouse also oversees the management and utilization of the Credit Clearinghouse "bank," funds which have been earmarked for purchasing credits.  The Clearinghouse maintains this permanent standing fund which is managed by the Suffolk County Treasurer's office, with policy and instructions provided by the Clearinghouse. These funds are used to purchase credits from private owners and are replenished when purchased credits are resold.

To learn more about the Clearinghouse Board members and to obtain a copy of the Pine Barrens Credit registry and financial reports visit our online document library and select the category "Credit Program".