N.J. Admin. Code § 2:76-8.10

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

Section 2:76-8.10 - Final Committee action

(a) Upon identification to the Committee of the fee simple value negotiated with a landowner other than a government entity pursuant to 2:76-8.9, the Committee shall ensure compliance with the provisions of this subchapter and if all requirements are satisfied, grant final approval of the fee simple purchase of the land and all of its improvements subject to the following:

1. Available funds; and

2. Execution of an agreement between the owner of the fee simple interest and Committee.

i. If appropriate, the Committee may condition its approval on a local government or nonprofit organization contributing a portion of the cost of acquiring the farmland in fee simple title if the preservation of the farmland is of significant local or regional importance or if the Committee has insufficient funds to pay 100 percent of the acquisition cost.

(b) Upon identification to the Committee of the fee simple value negotiated with a landowner that is a government entity pursuant to 2:76-8.9, the Committee shall ensure compliance with the provisions of this subchapter and if all requirements are satisfied, grant final approval of the fee simple purchase of the land and all of its improvements subject to the following:

1. Available funds;

2. The provisions at 2:76-8.1 1; and

3. Execution of an agreement between the local government entity owning the fee simple interest and Committee.

N.J. Admin. Code § 2:76-8.10

Recodified from N.J.A.C. 2:76-8.7 and amended by R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
Rewrote the section.