N.J. Admin. Code § 19:31C-2.14

Current through Register Vol. 56, No. 17, September 3, 2024

Section 19:31C-2.14 - Evaluation

(a) FMERA shall evaluate each sealed bid and offer to purchase received in accordance with this subchapter and shall identify the sealed bid(s) or offer(s) to purchase determined to be responsive to all material elements set forth in the solicitation or notice of availability, respectively, which may include, but not be limited to:

1. The purchase price;

2. The estimated jobs to be created at or relocated to the parcel;

3. The purchase term including due diligence period as well as payment for such period;

4. The proposed project capital investment;

5. The potential purchaser's financial capacity to meet the proposed terms of purchase and project completion;

6. The future use of the property;

7. The impact to the host municipality; and

8. Confirmation that the potential purchaser's proposed use is consistent with the Plan.

(b) Evaluation of sealed bids and offers to purchase will be made based on the best interests of the Authority and the redevelopment plans for Fort Monmouth, price and other factors considered. In evaluating purchase price, FMERA will consider purchase price as compared to a valuation of the real and/or personal property established by an appraisal report prepared by a professional licensed appraiser. FMERA may accept a lower purchase price from a governmental purchaser or public/private partnership if the proposal is based upon a significant creation of jobs or investment in the technology sector.

N.J. Admin. Code § 19:31C-2.14