New Jersey Senate Bill S3516

New Jersey 2024-2025 Regular Session

• Introduced: 6/26/24
• Refer: 6/26/24
• Report Pass: 6/26/24

Caption

Authorizes State Treasurer to sell as surplus certain real property and improvements in City of Camden in Camden County.

Impact

The sale will be executed in parts, with a section known as the NJEDA Site being sold for either $5,000,000 or the appraised value and another portion designated the City Site being sold to the City of Camden for a nominal fee of one dollar. Sale conditions for the City Site stipulate that it must be preserved for public purposes, potentially enhancing recreational opportunities within the city. The authority’s ability to sell the NJEDA Site will help foster new economic development and real estate initiatives, supporting local job creation and community revitalization.

Summary

Senate Bill S3516 authorizes the State Treasurer to sell certain surplus real property and improvements within the City of Camden. The bill specifically pertains to the former Riverfront State Prison, encompassing a 16-acre parcel deemed surplus to state needs. The property has been the subject of legislative attention since its closure in 2009, and previous attempts to sell it under P.L.2013, c.22 were unsuccessful. This bill aims to streamline the sale process by allowing property to be sold without needing further legislative approval, thus facilitating faster economic development in the area.

Contention

A notable point of contention surrounding the bill arises from its repeal of P.L.2013, c.22, which originally set out a different protocol for the property's sale. Critics might be concerned about trimming legislative oversight in real estate transactions and potential implications for local governance concerning land use. There may also be questions regarding the responsibilities of the State to maintain or improve properties sold in an 'as is' condition, which could lead to future liabilities for the developer or city involved.