Bill Text: NJ S3331 | 2016-2017 | Regular Session | Introduced
Bill Title: Authorizes State Treasurer to sell surplus real property in City of Camden, County of Camden to Camden County Improvement Authority.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2017-07-21 - Approved P.L.2017, c.145. [S3331 Detail]
Download: New_Jersey-2016-S3331-Introduced.html
Sponsored by:
Senator NILSA CRUZ-PEREZ
District 5 (Camden and Gloucester)
SYNOPSIS
Authorizes State Treasurer to sell surplus real property in City of Camden, County of Camden to Camden County Improvement Authority.
CURRENT VERSION OF TEXT
As introduced.
An Act authorizing the State Treasurer to sell as surplus property certain land and improvements thereon in the City of Camden, County of Camden
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 interest in the property known as 101 Haddon Avenue, that consists of 2.3+ acres of land and improvements thereon including a 102,020 square foot building, designated as Block 1397, Lot 3 in the City of Camden, County of Camden, which land and improvements have been declared surplus to the needs of the State.
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 the property known as 101 Haddon Avenue in the City of Camden, County of Camden, which consists of a five-story, 102,020 square foot building and 2.3+ acres of land that has been declared surplus to the needs of the State. The Camden County Improvement Authority will purchase the property for $13,950,000, which, according to the State House Commission, exceeds the appraised value for the subject property. The sale was approved by the State House Commission on June 12, 2017.
