Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Public Sale/Real Estate Auction
Purpose: To sell real estate property not needed for public use by open public sale at auction to the highest bidder.
Date of Auction: April 18, 2013
Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey 07102
Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other:
Contract Basis: (X ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a
List of Property: Refer to Resolution, Exhibit A
Additional Information:
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WHEREAS, N.J.S.A. 40A:12-13(a) provides that a municipality may sell any real property with or without capital improvements, not needed for public use, by open public sale at auction to the highest bidder after advertisement thereof in a newspaper circulated in the municipality in which the lands are situated, by two insertions at least once a week during two consecutive weeks, the last publication to be not earlier than seven days prior to such sale; and
WHEREAS, N.J.S.A. 40A:12-13(a) further provides that the Municipal Council may fix a minimum bid and may reserve its right to reject any and all bids. Notice of such reservation to reject any and all bids shall be included in the advertisement of the sale; and
WHEREAS, N.J.S.A. 40A:12-13(a) also provides that the Municipal Council may set such terms and conditions of sale as it deems fair and appropriate so long as such terms and conditions are included in the advertisement and are related to a lawful public purpose and encourage and promote fair and competitive bidding and are not inconsistent with or impose a special or higher standard than any zoning ordinance or building, plumbing, electrical, fire or similar code or ordinance in effect in...
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