N.J. Admin. Code § 19:31C-1.14

Current through Register Vol. 56, No. 21, November 4, 2024

Section 19:31C-1.14 - Recommendation, review, and award

(a) The Director and FMERA shall recommend to the Board the one potential lessee who will provide the lease agreement which is in the best interests of the Authority and the redevelopment plans for Fort Monmouth considering price and other factors. The Director and FMERA may decide not to recommend any lease proposals to the Board.

(b) The Board shall determine whether to issue a notice of intent to award a lease agreement and reject competing proposals or to take other appropriate action.

(c) Upon approval by the Board of an award of lease, FMERA shall issue a notice of intent to award a lease agreement and send it to all potential lessees that submitted a proposal. The notice of intent to award a lease agreement shall set forth all of the material terms of the lease agreement. FMERA shall finalize the lease agreement which shall be executed by the Director.

N.J. Admin. Code § 19:31C-1.14