A. The Farmland and Open Space Committee shall prepare a report recommending which parcels of land should be acquired in fee simple and/or those parcels of land from which the Township should acquire development rights only.

B. The Farmland and Open Space Committee shall submit to the Township Committee a prioritized list of properties which it recommends that the Township acquire and/or properties from which it recommends that development rights should be acquired. The Township Committee shall review the list as submitted and make a determination as to which properties are to be acquired and shall state the amount of funds that the Township Committee shall make available for such acquisition.

C. After selection of the properties to be acquired referred to in Subsections A and B above, the Township may proceed to acquire by gift purchase or be eminent domain proceedings, pursuant to N.J.S.A. 20:3-1 et seq., the identified parcels within the financial constraints established by the Township Committee.