N.J. Admin. Code § 19:31C-1.17 - Lease with public agency

(a) Notwithstanding the advertising process set forth in 19:31C-1.3, FMERA, in response to a solicitation for proposals by a public agency, may make a proposal to the public agency to lease a parcel of land or a building and accompanying personal property without publicly advertising the particular property as being available for lease when the Board determines that the proposed lease with the public agency is in the best interests of the Authority and the redevelopment plans for Fort Monmouth considering price and other factors or that the particular property offers a unique benefit to the public agency.

(b) The Director and FMERA may recommend to the Board the making of a lease proposal to a public agency if the proposal is in the best interests of the Authority and the redevelopment plans for Fort Monmouth considering price and other factors or the particular property offers a unique benefit to the public agency. The rental rate for a lease proposed to a public agency may be discounted below market rent based on an evaluation formula approved by the Board taking into consideration elements that may include, but not be limited to: job creation; economic or community benefit(s) that would not be realized from a lease to a private party; service provided to municipality or county; and improved community development or educational services to the region. Any recommendation to make a lease proposal to a public agency shall also identify any solicited or unsolicited lease or purchase proposal that the Authority may have received for the particular property.

(c) FMERA may respond to a request for a refined proposal or a counter-proposal from the public agency that received a proposal by negotiating minor changes to the Authority's proposal provided that changes to the Authority's proposal do not materially change the benefits of the lease to the Authority and the redevelopment plans for Fort Monmouth, price and other factors considered, based upon the above noted evaluation criteria.

(d) Upon acceptance by a public agency of a lease proposal made by the Authority with no changes or only minor changes to the Authority's proposal or the approval by the Board of a refined proposal by FMERA or a counter-proposal from a public agency, FMERA may enter into a lease agreement for the particular property with the public agency to whom FMERA had made an offer.

(e) If, in the period of time between when the Board approves the making of a proposal to a public agency pursuant to (a) above and FMERA entering into a lease agreement with the public agency, the Authority is notified by some other public agency that it is interested in leasing the particular property, FMERA shall advertise the property as available for lease pursuant to 19:31C-1.3 and award a lease as set forth in 19:31C-1.1 4. In such instances, the notice for proposals advertised by FMERA may specify that only public agencies are eligible bidders for leasing the particular property.

Notes

N.J. Admin. Code § 19:31C-1.17