Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Service Contract
Purpose: Online Electronic Tax Sales
Entity Name: R.O.K Industries, Inc. d/b/a NJ TAX Lien Investor.com/RealAuction.com LLC.
Entity Address: 306 Harlingen Road, Belle Mead, New Jersey 08502-5309
Contract Amount: Amount not to exceed $160,000.00
Funding Source: 2016 City Budget/ Department of Finance
Contract Period: One (1) year from the date of final contract execution consistent with any extensions to the State's pilot program
Contract Basis: ( ) Bid (X) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
This award is a Non-Fair and Open Contract as this 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 in the amount of $80,000.00
Deferred 7R5-c 080316
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 an Electronic Tax Sales pilot program; and
WHEREAS, on June 15, 2016, the City of Newark adopted Resolution 7R5-d for participation in the pilot program for an Electronic Tax Sale; and
WHEREAS, an Electronic Tax Sale is an online, innovative, efficient means of generating a greater pool of potential lien buyers, thus creating the environment for ...
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