Philadelphia Suburban Announces 30-Acre Land Donation to East Bradford Township for Open Space.

Business Editors

BRYN MAWR, Pa.--(BUSINESS WIRE)--Sept. 9, 2003

Philadelphia Suburban Water Company (PSW) Chairman Nicholas DeBenedictis announced today that the company will donate nearly 30 acres of land along East Branch Brandywine Creek near its Morrison Coulter Water Treatment Plant in East Bradford Township to the township to preserve as open space as part of its watershed preservation effort.

In addition to ensuring that the land will not be developed, the donation extends a corridor of open space along the Brandywine in East Bradford Township. The land will provide for a public trail easement through the property as well as a corridor for wildlife and for passive recreation.

East Bradford Supervisor and Open Space Review Board member Vincent Pompo said, "East Bradford appreciates the donation from the water company. This is a piece of a much larger focus-based program that the township has been working toward for many years. We hope that this will serve as an example to other landowners."

DeBenedictis said that while many people might think the company's land donation is exceptional, it is consistent with the company's practice to donate land when appropriate. Citing other land donations, DeBenedictis said "It was exactly 20 years ago this year that PSW provided more than 1,000 acres of land around our Green Lane Reservoir in Montgomery County to Montgomery County Parks for recreation. Since then, there have been several similar transactions in which the land was either completely donated or sold at a significantly reduced price. In 1999, PSW sold 33 acres of land in Bethayres, Montgomery County at a reduced price to the Pennypack Ecological Restoration Trust for open space. Last year PSW sold 44 acres to Bucks County Parks Department at a reduced price for open space. The practice is consistent throughout the company as its sister companies in both New Jersey and Illinois have either gifted or sold land for similar open space purposes within the past few years."

In January of this year, PSW announced an agreement with the Commonwealth of Pennsylvania to transfer approximately 9,000 acres of woodlands in Northumberland and Columbia counties to State Forest Lands. The state will acquire approximately 7,000 acres of watershed land for $4.4 million and the company intends to donate 2,000 acres of remaining land above its water supply reservoirs to the state so it also can be protected in perpetuity as State Forest land.