Bill Text: NJ A4943 | 2020-2021 | Regular Session | Chaptered
Bill Title: Authorizes State Treasurer to sell and convey certain surplus real property located in Borough of Franklin, Sussex County.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Passed) 2021-02-04 - Approved P.L.2021, c.11. [A4943 Detail]
Download: New_Jersey-2020-A4943-Chaptered.html
T & E
An Act authorizing the State Treasurer to sell certain surplus real property and improvements thereon owned by the State in the Borough of Franklin, County of Sussex.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The Department of the Treasury is authorized 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 Franklin Armory, which contains 10.446 +- acres of land and improvements thereon, located at Block 2401, Lot 20 in the Borough of Franklin, County of Sussex. The property shall be sold and conveyed to the 12 Munsonhurst LLC, the highest bidder at an Internet auction, for the sum of $930,000.
b. The sale and conveyance authorized by subsection a. of this section shall be executed in accordance with the terms and conditions approved by the State House Commission.
2. This act shall take effect immediately.
STATEMENT
This bill authorizes the State Treasurer to sell and convey all of the State's right, title, and interest in and to the property formerly known as the Franklin Armory, which contains 10.446 +- acres of land and improvements thereon. The property is located in the Borough of Franklin, County of Sussex. The property has been declared surplus to the needs of the State. The highest bidder at an Internet auction was the 12 Munsonhurst LLC. The property will be conveyed for the sum of $930,000.
The property will be sold in accordance with the terms and conditions approved by the State House Commission.
Authorizes State Treasurer to sell and convey certain surplus real property located in Borough of Franklin, Sussex County.
