SENATE, No. 2708

STATE OF NEW JERSEY

217th LEGISLATURE

 

INTRODUCED OCTOBER 20, 2016

 


 

Sponsored by:

Senator  RICHARD J. CODEY

District 27 (Essex and Morris)

Assemblywoman  MILA M. JASEY

District 27 (Essex and Morris)

Assemblyman  JOHN F. MCKEON

District 27 (Essex and Morris)

Assemblyman  RAJ MUKHERJI

District 33 (Hudson)

 

 

 

 

SYNOPSIS

     Authorizes State Treasurer to convey surplus real property known as Millburn Regional Day School in Millburn Township, Essex County, to Millburn Township Board of Education or to Millburn Township for $3,550,000.

 

CURRENT VERSION OF TEXT

     As introduced.

  


An Act authorizing the State Treasurer to sell certain surplus real property and improvements thereon owned by the State in the Township of Millburn in Essex County.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.     The Department of the Treasury, on behalf of the Department of Education, is authorized to sell and convey all of the State’s right, title and interest in and to the land and improvements thereon known as the Millburn Regional Day School, situated on Block 1101, Lot 44 in Millburn Township, Essex County, which has been declared surplus to the needs of the State.  The consideration to be paid to the State by the Millburn Township Board of Education or Millburn Township for the sale and conveyance of the property shall be the appraised value of $3,550,000.

     b.    The State shall arrange for the sale and conveyance of the property to the Millburn Township Board of Education in accordance with the terms and conditions, and in the furtherance of procedures for the disposition of the property, approved by the State House Commission at its meeting on October 26, 2015.  If the Millburn Township Board of Education is not interested in or not able to purchase the property, then the Millburn Township may purchase the property for the appraised value.  If neither the Millburn Township Board of Education nor the Millburn Township are interested in or are able to purchase the property, then the Department of Treasury is authorized to sell the property by means of a public auction, with the minimum bid being the then current, fair market appraised value, under such terms and conditions as may be approved by the State House Commission.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill authorizes the State Treasurer on behalf of the Department of Education to sell and convey all of the State’s right, title and interest in and to the property known as the Millburn Regional Day School, situated on Block 1101, Lot 44 in Millburn Township, Essex County, which has been declared surplus.  The property will be offered first to the Millburn Township Board of Education and second to Millburn Township for an appraised value of $3,550,000.  If neither the Board of Education nor the Township elect to purchase the property, the State is authorized to sell the property at a public auction with the minimum bid being the then current, fair market appraised value.