N.J. Admin. Code § 2:77-5.6
Current through Register Vol. 56, No. 24, December 18, 2024
Section 2:77-5.6 - Final Board action(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; or2. 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.N.J. Admin. Code § 2:77-5.6