N.J. Admin. Code § 2:76-17.12

Current through Register Vol. 56, No. 19, October 7, 2024

Section 2:76-17.12 - Landowner offer

(a) Within 30 days of receipt of the Committee's certification of the market value of the development easement, the county shall report the certified value to the landowner.

1. The county may negotiate a purchase price of the development easement for an amount greater than or less than the Committee's certified market value of the development easement, but not greater than the higher of the two independent appraised development easement values determined pursuant to 4:1C-31(c) and 13:8C-1 et seq., P.L. 1999, c. 152 and 2:76-17.1 1.

2. If applicable, the county shall inform the landowner of the terms and conditions of any installment purchase agreements, options or potential donations.

(b) Within 60 days of the landowner's receipt of the Committee's certification of the market value of the development easement, the landowner shall submit, in writing, an acceptance or rejection of the offer. A copy of the acceptance or rejection shall be provided to the Committee.

1. An offer by a landowner requesting to sell his development easement for a value that is greater than the higher of the two independent appraised development easement values determined pursuant to 4:1C-31(c), and 13:8C-1 et seq., P.L. 1999, c. 152 and 2:76-17.1 1 shall be deemed a rejection of the offer.

2. If the landowner accepts the county's offer, the county shall enter into an agreement with the landowner contingent upon the board's final review pursuant to N.J.A.C. 2:76-17.13 and the Committee's final review pursuant to N.J.A.C. 2:76-17.14 and , if requested, shall provide a copy of the agreement to the Committee, and in the event municipal funds are provided, to the municipality.

3. If a landowner rejects an offer for an amount equal to or greater than the certified market value, the Committee shall not accept for processing any individual farm application or application for sale of land in fee simple pursuant to the planning incentive grant program or any other farmland preservation program authorized pursuant to N.J.S.A. 4:1C-11et seq., or 13:1C-1 et seq., for two years from the date that the board originally submitted an individual farm application to the Committee. This provision applies only to an application from the same landowner for the same farm property.

N.J. Admin. Code § 2:76-17.12

Amended by 52 N.J.R. 1549(a), effective 8/3/2020