Title
Dept/ Agency: Finance
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Service Contract
Purpose: Electronic Tax Sales
Entity Name: R.O.K Industries, Inc. d/b/a NJTAX Lien Investors.com/RealAuction.com LLC.
Entity Address: 306 Harlingen Road, Belle Mead, New Jersey 08502-5309
Contract Amount: $150,000.00
Funding Source: 2015 Temporary Budget
Contract Period: June 19, 2015 through June 18, 2016
Contract Basis: ( ) Bid ( ) State Vendor (X) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Contract is being awarded as non-fair and open as Vendor is the only one authorized by the Division of Local Government Services to offer this service within the State of New Jersey.
Partial Certification of Funds $81,843.00
Deferred 7R5-b 102115
body
WHEREAS, N.J.S.A. 54:5-19.1 authorizes electronic tax sales pursuant to rules and regulations to be promulgated by the Director of the Division of Local Government Services, (hereinafter referred to as "the Division") and
WHEREAS, the Director of the Division of Local Government Services has promulgated rules and regulations for pilot programs, and
WHEREAS, the Director of the Division of Local Government Services has approved R.O.K Industries, d/b/a NJ Tax Lien Investors/RealAuction.com LLC. to conduct pilot programs, and
WHEREAS, on June 17, 2015, the City of Newark adopted Resolution 7R5-a 061715 for participation in the pilot program for an Electronic Tax Sale, and
WHEREAS, an Electronic Tax Sale is innovative and provides a greater pool of potential lien buyers, thus creating the environment for a more complete tax sale process, and
WHEREAS, the City of Newark has received provisional approval from the Division of Local Government Services to pa...
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