N.J. Admin. Code § 19:31C-2.15

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

Section 19:31C-2.15 - Negotiations

(a) When the sealed bid process is used to sell property, FMERA may negotiate with one or more bidders that has submitted advantageous sealed bid(s) terms that are in the best interests of the Authority and the redevelopment plans for Fort Monmouth, price and other factors considered, in accordance with the evaluation criteria in 19:31C-2.1 4. FMERA reserves the right to negotiate with some but not all potential purchasers who submitted a sealed bid based on initial submissions.

(b) When the offer to purchase process is used to sell property, from time to time as offers are received, FMERA may negotiate terms of sale that are in the best interests of the Authority and the redevelopment plans for Fort Monmouth, price and other factors considered, in accordance with the evaluation criteria in 19:31C-2.1 4. Negotiating with a potential purchaser will not preclude FMERA from negotiating with other potential purchasers unless FMERA has entered into an exclusive negotiating period with a potential purchaser in accordance with 19:31C-2.1 6.