N.J. Admin. Code § 19:31C-2.15 - Negotiations
(a) When the
sealed bid process is used to sell property, FMERA may negotiate with one or
more bidders that has submitted advantageous sealed bid(s) terms that are in
the best interests of the Authority and the redevelopment plans for Fort
Monmouth, price and other factors considered, in accordance with the evaluation
criteria in
19:31C-2.1 4. FMERA reserves the
right to negotiate with some but not all potential purchasers who submitted a
sealed bid based on initial submissions.
(b) When the offer to purchase process is
used to sell property, from time to time as offers are received, FMERA may
negotiate terms of sale that are in the best interests of the Authority and the
redevelopment plans for Fort Monmouth, price and other factors considered, in
accordance with the evaluation criteria in
19:31C-2.1 4. Negotiating with a
potential purchaser will not preclude FMERA from negotiating with other
potential purchasers unless FMERA has entered into an exclusive negotiating
period with a potential purchaser in accordance with
19:31C-2.1 6.
Notes
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