New Jersey Administrative Code
Title 2 - AGRICULTURE
Chapter 77 - TRANSFER OF DEVELOPMENT RIGHTS
Subchapter 5 - PURCHASE OF DEVELOPMENT POTENTIAL
Section 2:77-5.6 - Final Board action
Universal Citation: NJ Admin Code 2:77-5.6
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Upon certification of the fair market value of the development potential, the Board shall either:
1. Approve the purchase of the development
potential at a maximum purchase price; or
2. Disapprove the application and state the
reasons for the denial.
(b) The Board may authorize staff to negotiate with the owner of the development potential for a purchase price less than the certified fair market value of the development potential.
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