New Jersey Administrative Code
Title 2 - AGRICULTURE
Chapter 76 - STATE AGRICULTURE DEVELOPMENT COMMITTEE
Subchapter 13 - NONPROFIT ACQUISITION PROJECTS: APPLICATION PROCESS
Section 2:76-13.5 - Appraisal procedures
Universal Citation: NJ Admin Code 2:76-13.5
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The nonprofit shall obtain two appraisals as follows:
1. The nonprofit
shall request a meeting with Committee staff to discuss the selection and hiring of
two appraisers and the scope of work;
2.
The nonprofit shall select two appraisers from the list of appraisers adopted by the
Committee pursuant to
2:76-6.7 to conduct independent
appraisals to determine the fair market value of the development easement or fair
market value of the fee simple estate;
3. All appraisals shall be prepared pursuant to
the Garden State Preservation Trust Act,
13:8C-38,
P.L.
1999, c. 152, the
Committee's Appraisal Handbook Standards at N.J.A.C. 2:76-10 and the Committee's
Appraisal Handbook;
4. The nonprofit
shall request a meeting with Committee staff and the appraisers to discuss the scope
of work and to visit the project site, prior to starting the appraisal(s);
and
5. The nonprofit shall submit to the
Committee one copy of each completed appraisal.
(b) The nonprofit shall immediately submit to the Committee, in writing, any information it has which could affect the appraised value of the project site.
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