N.J. Admin. Code § 2:76-11.9

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

Section 2:76-11.9 - Negotiation of offer

(a) The Committee shall authorize staff to negotiate the purchase of a development easement with the owner not to exceed the certified market value of the development easement certified by the Committee pursuant to 2:76-11.8.

1. A landowner may voluntarily accept a development easement value that is less than the lowest market value of the development easement as determined pursuant to 2:76-11.8.

2. In the event that the development easement is owned by a governmental entity, the Committee's offer for the purchase of the development easement shall not exceed the Committee's cost share determined pursuant to 2:76-6.1 1(d).

(b) Upon the owner's acceptance of a development easement value, the Committee shall conduct a final review pursuant to 2:76-11.1 0.

N.J. Admin. Code § 2:76-11.9

New Rule, R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).