N.J. Admin. Code § 19:31C-1.14 - Recommendation, review, and award
(a) The Director
and FMERA shall recommend to the Board the one potential lessee who will
provide the lease agreement which is in the best interests of the Authority and
the redevelopment plans for Fort Monmouth considering price and other factors.
The Director and FMERA may decide not to recommend any lease proposals to the
Board.
(b) The Board shall
determine whether to issue a notice of intent to award a lease agreement and
reject competing proposals or to take other appropriate action.
(c) Upon approval by the Board of an award of
lease, FMERA shall issue a notice of intent to award a lease agreement and send
it to all potential lessees that submitted a proposal. The notice of intent to
award a lease agreement shall set forth all of the material terms of the lease
agreement. FMERA shall finalize the lease agreement which shall be executed by
the Director.
Notes
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