Statutes, codes, and regulations
New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTIONChapter 36 - GREEN ACRES PROGRAM
Subchapter 9 - LOCAL GOVERNMENT UNIT ACQUISITION PROJECTS: PROJECT AGREEMENT, NEGOTIATIONS FOR PURCHASE OF PROJECT SITE, SUPPLEMENTAL FUNDING, DISBURSEMENTS OF LOAN OR MATCHING GRANT, LOAN REPAYMENT, AND ACCOUNTING AND RECORDKEEPING REQUIREMENTS
Section 7:36-9.2 - Negotiations for purchase of project site

N.J. Admin. Code § 7:36-9.2

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Current through Register Vol. 56, No. 24, December 18, 2024
Section 7:36-9.2 - Negotiations for purchase of project site
(a) For any parcel that is to be acquired in whole or in part with Green Acres funding, the local government unit may enter into a purchase contract with the property owner or institute condemnation proceedings only after the local government unit has received the notification of the Green Acres funding award under N.J.A.C. 7:36-8.1 and the notification of eligible land cost under N.J.A.C. 7:36-8.4, or an at risk authorization under N.J.A.C. 7:36 6.3.
(b) Any person who performed an appraisal under N.J.A.C. 7:36-8.3 of any parcel in the project site shall not conduct negotiations for the acquisition of such parcel.
(c) The local government unit shall conduct all negotiations in conformance with the Garden State Preservation Trust Act, particularly N.J.S.A. 13:8C-26.
(d) The local government unit shall share both the eligible land cost and the hypothetical land value with the property owner and shall base its negotiation on the higher of the two values. This requirement shall be in effect until June 30, 2009, pursuant to the Garden State Preservation Trust Act (N.J.S.A. 13:8C-26).

N.J. Admin. Code § 7:36-9.2