ASSEMBLY, No. 1724

STATE OF NEW JERSEY

INTRODUCED MARCH 18, 1996

By Assemblyman AZZOLINA

An Act concerning the sale of certain real property owned by the Department of Military and Veterans' Affairs and repealing P.L.1991, c.88.

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

    1.    P.L.1991, c.88 is repealed.

    2.    This act shall take effect immediately.

STATEMENT

    The purpose of this bill is to permit the public sale of the Red Bank Armory to the highest bidder. The bill repeals P.L.1991, c.88 which authorized sale of the armory, consisting of 1.17 + acres and improvements located on Chestnut Street in Red Bank, on terms approved by the State House Commission at its January 31, 1989 meeting. The proposal approved by the commission contemplated sale of the property to the City of Red Bank. However, the city has since decided not to purchase the armory. Repeal of P.L.1991, c.88 is necessary to permit a public sale of this property to the highest bidder. Additional statutory authorization of the new proposed sale is not necessary because the 1995-96 Appropriations Act, P.L.1995, c.164, authorizes the head of a principal department to sell real property held by the department having a value of $5 million or less with the approval of the State Treasurer and the Director of the Division of Budget and Accounting.

Repeals P.L.1991, c.88 in order to permit public sale of the Red Bank Armory to highest bidder.