New Jersey Assembly Bill A5862

New Jersey 2022-2023 Regular Session

• Introduced: 12/11/23
• Refer: 12/11/23

Caption

Authorizes State Treasurer to sell as surplus certain real property and improvements in Township of Hillsborough in Somerset County.

Impact

The implications of A5862 are pertinent to the management of state-owned properties and their real estate assets. By streamlining the sale of surplus properties, the bill aims to enable more efficient use of state resources. This sale could free up the property for local development or alternative community needs, thereby serving the best interest of the public. It also raises the question of accountability in terms of how state land is sold and the valuation process involved.

Summary

Assembly Bill A5862 seeks to authorize the State Treasurer to sell certain surplus property located in the Township of Hillsborough, Somerset County. This property, which encompasses 4.3 acres, was previously used as the Hillsborough Social Services Office and is considered surplus to the needs of the state. The bill stipulates that the property should first be offered to the Borough of Manville at an appraised value of $870,000. Should this sale not occur, the property would then be sold to the highest bidder through an Internet auction, with a minimum bid matching the appraised value.

Contention

There may be points of contention surrounding the sale of public assets, notably regarding transparency and the valuation process that determines the sale price. While local governments like Manville may benefit from acquiring such properties, there could be concerns from community members about potential changes in zoning or the loss of public service sites. Furthermore, issues related to the process of selling property through competitive auction may also prompt discussion about fairness and local input in decisions related to public assets.