As an open space initiative, the Glen Alpin purchase was a very successful transaction for the Township.  The Township protected 9.5 acres at a relatively low cost of $18,420 per acre, paying only 12.5% of the $1.4 million purchase price and only 7.3% of the reported appraised value.  

Harding residents benefit from the Open Spaces public access to and preservation of the property.  It is not yet clear how Harding residents will directly benefit from the rather more costly Glen Alpin rehabilitation other than from the important but general benefits of historic preservation. 

Because of its connection with Peter Kemble and the Revolutionary war, the Glen Alpin property is historically significant.  The Glen Alpin House, too, appears to be a nationally and locally significant historic architecture that should be preserved, at least in principle.  Both Morris County and the State of New Jersey agree, having already made significant financial contributions to the project.  According to the Township, the National Park Service endorses the project although to date they have made no financial contribution to it.

According to the Township’s current plan, renovating and managing Glen Alpin will be a significant resources challenge: 

• If the Township expects to raise from 30% to 40% of the total $4 million renovation cost from grants and donations, one can infer that the Township’s total share of the renovation cost could range from $2.4 to $2.8 million.
• According to our rough calculation, if the Township completes the four rehabilitation phases as outlined by the architects, it will need to raise a minimum $2.15 million (from grants, donations, debt issuance, or taxes) more than the $1.85 million already appropriated.  This amount does not include monies needed for debt service payments or other required renovation or landscaping work. 
• The Township projects that operating revenues will cover operating costs by renting the first floor for events and the second floor as not-for-profit office space.  Financial estimates supporting this have not been yet released. Tax revenue, grants, or donations must cover any shortfall.  It is not known what other revenue producing options have been explored such as the rent, sale, or long-term lease of the property for private or other commercial use (subject to all applicable easements).   
• The Township will also have to expend personnel resources (particularly DPW) administering and maintaining the Glen Alpin property.  The Township must perform it duties as a landlord or otherwise retain a property management firm to act in its behalf.   
• In 2005, 10% of Open Space tax revenue was approximately $78,000.  The 10% of annual Open Space funds available for historic preservation expenditures will not be sufficient to pay for the Township's portion of the full renovation costs including debt repayment.  The Township will ultimately have to pay for such costs with general tax revenues.  Nonetheless, Glen Alpin will be significant part of the Open Space budget for some time and is likely to compete with other historic preservation initiatives the Township wants to pursue.