N.J. Admin. Code § 19:35-5.19

Current through Register Vol. 57, No. 1, January 6, 2025

Section 19:35-5.19 - Sealed bid process for surplus real property: advertisement

(a) The disposition of surplus real property may be conducted through a sealed bid process initiated by issuance of a Notice of Solicitation of Sealed Bids.

(b) The disposition of surplus real property through a solicitation of sealed bids shall be conducted by placing an advertisement of a Notice of Solicitation of Sealed Bids in the following outlets:

1. On the SDA website;

2. On the New Jersey State business portal;

3. In the Public/Legal Notice section of a daily newspaper with Statewide circulation; and

4. In the Public/Legal Notice section of a daily newspaper published or circulated in the county in which the surplus real property is located.

(c) Advertisements on the SDA website and on the New Jersey State business portal shall be maintained through the date for submission of sealed bids.

(d) Required newspaper advertisements shall be published at least twice, one week apart.

(e) The advertisement for the solicitation of sealed bids shall contain the following information:

1. A description of the surplus real property, including its location (listing street address, if any, municipality and county, or any other descriptors sufficient to define the location of the surplus real property), a description of any improvements thereon, a metes and bounds description, if available, and the municipal tax block and lot designations of the parcels comprising the surplus real property being disposed of;

2. The time frame during which the surplus real property may be inspected;

3. Notice of the physical and/or online address where bidders may obtain relevant forms and applicable terms and conditions of transfer;

4. Notice of the material terms of the sale. Notice shall be sufficient if set forth directly in the advertisement, or on the SDA website, or contained in identified documents made available for review on the SDA website;

5. A statement, if applicable, advising prospective bidders as to the SDA's reservation of a right to seek best and final sealed bids from one or more bidders that timely submitted a responsive bid for the surplus real property that is the subject of the solicitation;

6. A statement that the SDA may cancel the solicitation and/or reject any or all bids at any time before or after the opening of the bids;

7. A statement of the place and final date and time for submitting sealed bids, which shall not be less than 10 days after publication of the second advertisement;

8. A statement of the date, time, and place of the opening of the bids; and

9. A statement that the surplus real property shall be conveyed in "as is/where is, with all faults" condition and that a prospective bidder shall be responsible for conducting its own due diligence in connection with the submission of a bid.

N.J. Admin. Code § 19:35-5.19

Adopted by 54 N.J.R. 647(a), effective 4/4/2022