Authorizes State Treasurer to sell as surplus certain real property and improvements in City of Camden in Camden County.
Impact
By allowing the NJEDA and the City of Camden to handle the sale of this property without requiring approval from the State House Commission or further legislative action, the bill streamlines the process for economic development initiatives in the Camden area. Additionally, the City Site must be preserved for public use, specifically as a park or for recreational activities, aligning with community interests around local land use. The bill also repeals the previous law from 2013 that sought to sell the property through a different mechanism, removing outdated and ineffective provisions.
Summary
Assembly Bill A4707 authorizes the State Treasurer to sell certain surplus real property, specifically the former Riverfront State Prison located in Camden, New Jersey. The bill defines the specific areas of land included in the sale—namely, the NJEDA Site and the City Site. The NJEDA Site will be sold to the New Jersey Economic Development Authority (NJEDA) for the lesser of $5 million or its appraised value, while the City Site will be sold to the City of Camden for just one dollar, contingent upon the city's subsequent sale of another property interest to NJEDA. This legislative action is a response to previous attempts to sell the property, as mandated by a 2013 law that was ultimately ineffective.
Sentiment
The sentiment surrounding A4707 appears to be generally positive, particularly among proponents who view it as a proactive step toward utilizing state surplus property to foster economic development in Camden. Supporters emphasize the need for efficient management of state assets to enable local redevelopment efforts. However, there may be contention among some community members regarding the specifics of how the land will be used post-sale, especially concerning the preservation of public space.
Contention
Potential points of contention arise primarily from the balance between economic development and community needs. While the sale of the City Site to Camden at a nominal fee is seen as beneficial for local development, it also raises questions about the long-term management of these lands and the types of developments that would result. Stakeholders will likely scrutinize how the NJEDA utilizes the property and ensure that community interests are prioritized in future planning and development activities.
Requires counties to report and transfer unclaimed surplus proceeds from real property tax sales to the unclaimed property division of the state treasurer after 3 years