ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5897

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 16, 2021

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 5897.

      This bill authorizes the Capital City Redevelopment Corporation, on behalf and with the consent of the State Treasurer, to sell and convey, as surplus real property, all of the State’s right, title, and interest in and to the property formerly known as the Taxation building, which contains 0.55+- acres of land and improvements located at Block 1902, Lot 1, in the City of Trenton, County of Mercer.  The property was declared surplus to the needs of the State on May 21, 2021.  The property will be sold pursuant to a request for proposal process approved by the State House Commission.

      The bill appropriates the proceeds of the sale to the corporation.

COMMITTEE AMENDMENTS:

      The amendments provide that any monies remaining after payment of costs may be used by the Capital City Redevelopment Corporation for purposes authorized by law.

FISCAL IMPACT:

This bill is not certified as requiring a fiscal note.