N.J. Admin. Code § 19:35-1.3
The following words and items, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:
"Act" means the Educational Facilities Construction and Financing Act, P.L. 2000, c. 72, N.J.S.A. 18A:7G-1 et seq., as Adopted by P.L. 2007, c. 137, N.J.S.A. 52:18A-235 et seq., which mandates a program for establishing efficiency standards for educational facilities at the elementary, middle, and secondary school levels and which further mandates that the State fund the cost to repair and renovate existing school facilities and to construct new school facilities determined to be necessary in order to meet the established school facilities efficiency standards in school districts determined to be SDA Districts under the program.
"Bidder" means a party submitting a bid for the purchase of surplus real or personal property in response to an advertised Notice of Solicitation for Sealed Bids.
"Bidding period" means the time set forth in the advertisement of a Notice of Solicitation for Sealed Bids for the disposition of surplus personal or real property during which a prospective bidder may submit a bid.
"Board" or "SDA Board" means the governing body of the SDA, consisting of the appointed members of the SDA, as set forth at N.J.S.A. 52:18A-237.
"Charitable purpose" means an effort designed to benefit, ameliorate, or uplift mankind mentally, morally, or physically, and includes the relief of the poor, the distressed, or the underprivileged, the advancement of education or science, the promotion of health, lessening neighborhood tensions, combating community deterioration, or any other purpose the achievement of which is beneficial to the community.
"Chief Executive Officer" or "CEO" means the executive director employed by the SDA Board as set forth at N.J.S.A. 52:18A-237.
"Compensation" means consideration that may take the form of money, exchanged property, contractual commitments, acts of forbearance, and/or such other conditions as are deemed by the SDA to be of value to the school construction program.
"Contract" means the entire and integrated agreement between a public or non-public party and the SDA, in such form as is required by the transaction for the disposition of the surplus real or personal property.
"Department" means the New Jersey Department of Education.
"Direct negotiated sale" means an arms-length transaction between the SDA and a person or entity with no connection to or affiliation with the SDA or any of its employees, for the sale and transfer of real property for fair market value, or personal property for estimated market value, without competitive bidding or advertisement, except that a direct negotiated sale may include the sale and transfer of real property that is advertised or marketed through a broker engaged by the SDA.
"Disposition" means the sale, lease, grant of easement, license, or other transfer of the SDA's legal rights in and/or to any real or personal property.
"Estimated market value" means the value of personal property established by its book value or other valuation methodology appropriate to the type of personal property being valued.
"Fair market value" means that amount of compensation a disposition of SDA real property would command in a competitive market between a willing seller and buyer under the same terms and conditions of the transaction, as determined by one or more independent appraisals prepared by a professional licensed appraiser(s), and any additional SDA analyses or valuations that take into account relevant factors, such as existing environmental conditions or concerns.
"Firm" means any association, company, contractor, corporation, joint stock company, limited liability company, partnership, sole proprietorship, or other business entity, including its successors, assignees, lessees, receivers, or trustees.
"Lease" means a contract granting the right to use or occupy SDA-owned real property during a specified period in exchange for a specified consideration.
"Non-public party" means a private individual, corporation, or other legal entity that is not a public entity, and that is eligible to enter into an agreement or otherwise contract with the SDA in connection with its disposition of real or personal property.
"Notice of Solicitation of Offers to Purchase" means the document comprising the notice to the public of a potential disposition of surplus property through an offer to purchase process.
"Offer to purchase" means a written document that memorializes the terms and conditions that a party agrees to, notably the amount of compensation that such party is willing to pay, in order to acquire specific property. An offer to purchase may be submitted in response to a Notice of Solicitation of Offers to Purchase or may be submitted by a willing offeror independent of any solicitation.
"Offer to purchase process" means a method of property disposition that advertises particular property as available for sale through the solicitation of competitive offers and any potential subsequent negotiation with one or more responding offerors during a negotiating period that remains open until a date specified in the advertisement.
"Offeror" means a party submitting either an offer to purchase in response to a Notice of Solicitation of Offers to Purchase or an unsolicited offer to purchase.
"Operating authority" means the SDA's policy, approved by the Board, and found on the SDA's website at www.njsda.gov, which designates individuals holding designated titles within the SDA as being authorized, either generally or in specific transactions, to approve contracts and/or to execute documents legally binding on the SDA, and/or to sign checks and disbursements on behalf of the SDA, at varying levels of authority based upon the value of such transactions.
"Personal property" means furnishings, equipment, computers, automobiles, movable machines and equipment, and any other tangible or intangible property owned by the SDA, with the exception of real property.
"Property" means real property and personal property, either individually, or in combination, as the context indicates.
"Public party" means the State, or any political subdivision of the State, or any agency or subsidiary thereof, or any entity charged with the exercise of governmental functions.
"Public purpose" means an endeavor that is related to a function of government and is consistent with the constraints of the bonds referenced at N.J.A.C. 19:35-1.1.
"Purchase agreement" means the entire and integrated agreement between a purchasing party and the SDA, in such form as is required by the transaction for the disposition of surplus real property.
"Real property" means any land in which title is held by the SDA, or in which the SDA has a legal interest, whether improved or unimproved, and includes structures, fixtures, appurtenances and other permanent improvements, excluding moveable machinery and equipment.
"School construction program" means the program for the construction of school facilities projects and related activities mandated by the Act and undertaken by the SDA.
"School facilities project" means the planning, acquisition, demolition, construction, improvement, alteration, modernization, renovation, reconstruction, or capital maintenance of all, or any, part of a school facility or of any other personal property necessary for, or ancillary to, any school facility, and shall include fixtures, furnishings and equipment, and if applicable, temporary facilities procured or constructed to facilitate construction of a permanent school facility. A school facilities project shall also include, but is not limited to, site acquisition, site development, the services of design professionals, such as engineers and architects, construction management, legal services, financing costs, and administrative costs and expenses incurred in connection with the project.
"SDA" means the New Jersey Schools Development Authority, an entity formed pursuant to P.L. 2007, c. 137 (N.J.S.A. 52:18A-235 et seq.), as successor to the New Jersey Schools Construction Corporation. The SDA is statutorily charged with undertaking and funding school facilities projects for the school construction program, pursuant to the Act.
"Sealed bid process" means a method of property disposition that advertises particular property as available for sale pursuant to the solicitation of competitive sealed bids received by a specified bid due date and opened on a specified opening date.
"Surplus personal property" means personal property that, pursuant to N.J.A.C. 19:35-2.2, has been determined not to be necessary, on a temporary or permanent basis, for the undertaking or management of a school facilities project and not used or useful in the business operations of the SDA.
"Surplus real property" means real property that, pursuant to N.J.A.C. 19:35-2.3, has been determined not to be necessary, on a temporary or permanent basis, for the undertaking or management of a school facilities project and not used or useful in the administrative operations of the SDA.
"Use and/or occupancy agreement" means an agreement between the SDA and a public or nonpublic party that provides for the short-term use and/or occupancy of all or any part of surplus real property, but that does not serve to transfer ownership from the SDA to such party.
N.J. Admin. Code § 19:35-1.3