New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY SCHOOLS DEVELOPMENT AUTHORITY › Chapter 35 - DISPOSITION OF SURPLUS REAL AND PERSONAL PROPERTY OF THE NEW JERSEY SCHOOLS DEVELOPMENT AUTHORITY › Subchapter 1 - GENERAL PROVISIONS › Section 19:35-1.3 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and items, when used in this chapter,
					 shall have the following meanings, unless the context clearly indicates
					 otherwise:
"Act" means the Educational Facilities Construction and
					 Financing Act,
					 P.L.
					 2000, c. 72,
					 N.J.S.A. 18A:7G-1 et
					 seq., as Adopted by
					 P.L.
					 2007, c. 137,
					 N.J.S.A.
					 52:18A-235 et seq., which mandates a program
					 for establishing efficiency standards for educational facilities at the
					 elementary, middle, and secondary school levels and which further mandates that
					 the State fund the cost to repair and renovate existing school facilities and
					 to construct new school facilities determined to be necessary in order to meet
					 the established school facilities efficiency standards in school districts
					 determined to be SDA Districts under the program.
"Bidder" means a party submitting a bid for the purchase of
					 surplus real or personal property in response to an advertised Notice of
					 Solicitation for Sealed Bids.
"Bidding period" means the time set forth in the
					 advertisement of a Notice of Solicitation for Sealed Bids for the disposition
					 of surplus personal or real property during which a prospective bidder may
					 submit a bid.
"Board" or "SDA Board" means the governing body of the SDA,
					 consisting of the appointed members of the SDA, as set forth at
					 N.J.S.A.
					 52:18A-237.
"Charitable purpose" means an effort designed to benefit,
					 ameliorate, or uplift mankind mentally, morally, or physically, and includes
					 the relief of the poor, the distressed, or the underprivileged, the advancement
					 of education or science, the promotion of health, lessening neighborhood
					 tensions, combating community deterioration, or any other purpose the
					 achievement of which is beneficial to the community.
"Chief Executive Officer" or "CEO" means the executive
					 director employed by the SDA Board as set forth at
					 N.J.S.A.
					 52:18A-237.
"Compensation" means consideration that may take the form
					 of money, exchanged property, contractual commitments, acts of forbearance,
					 and/or such other conditions as are deemed by the SDA to be of value to the
					 school construction program.
"Contract" means the entire and integrated agreement
					 between a public or non-public party and the SDA, in such form as is required
					 by the transaction for the disposition of the surplus real or personal
					 property.
"Department" means the New Jersey Department of
					 Education.
"Direct negotiated sale" means an arms-length transaction
					 between the SDA and a person or entity with no connection to or affiliation
					 with the SDA or any of its employees, for the sale and transfer of real
					 property for fair market value, or personal property for estimated market
					 value, without competitive bidding or advertisement, except that a direct
					 negotiated sale may include the sale and transfer of real property that is
					 advertised or marketed through a broker engaged by the SDA.
"Disposition" means the sale, lease, grant of easement,
					 license, or other transfer of the SDA's legal rights in and/or to any real or
					 personal property.
"Estimated market value" means the value of personal
					 property established by its book value or other valuation methodology
					 appropriate to the type of personal property being valued.
"Fair market value" means that amount of compensation a
					 disposition of SDA real property would command in a competitive market between
					 a willing seller and buyer under the same terms and conditions of the
					 transaction, as determined by one or more independent appraisals prepared by a
					 professional licensed appraiser(s), and any additional SDA analyses or
					 valuations that take into account relevant factors, such as existing
					 environmental conditions or concerns.
"Firm" means any association, company, contractor,
					 corporation, joint stock company, limited liability company, partnership, sole
					 proprietorship, or other business entity, including its successors, assignees,
					 lessees, receivers, or trustees.
"Lease" means a contract granting the right to use or
					 occupy SDA-owned real property during a specified period in exchange for a
					 specified consideration.
"Non-public party" means a private individual, corporation,
					 or other legal entity that is not a public entity, and that is eligible to
					 enter into an agreement or otherwise contract with the SDA in connection with
					 its disposition of real or personal property.
"Notice of Solicitation of Offers to Purchase" means the
					 document comprising the notice to the public of a potential disposition of
					 surplus property through an offer to purchase process.
"Offer to purchase" means a written document that
					 memorializes the terms and conditions that a party agrees to, notably the
					 amount of compensation that such party is willing to pay, in order to acquire
					 specific property. An offer to purchase may be submitted in response to a
					 Notice of Solicitation of Offers to Purchase or may be submitted by a willing
					 offeror independent of any solicitation.
"Offer to purchase process" means a method of property
					 disposition that advertises particular property as available for sale through
					 the solicitation of competitive offers and any potential subsequent negotiation
					 with one or more responding offerors during a negotiating period that remains
					 open until a date specified in the advertisement.
"Offeror" means a party submitting either an offer to
					 purchase in response to a Notice of Solicitation of Offers to Purchase or an
					 unsolicited offer to purchase.
"Operating authority" means the SDA's policy, approved by
					 the Board, and found on the SDA's website at
www.njsda.gov
, which designates individuals holding
					 designated titles within the SDA as being authorized, either generally or in
					 specific transactions, to approve contracts and/or to execute documents legally
					 binding on the SDA, and/or to sign checks and disbursements on behalf of the
					 SDA, at varying levels of authority based upon the value of such
					 transactions.
"Personal property" means furnishings, equipment,
					 computers, automobiles, movable machines and equipment, and any other tangible
					 or intangible property owned by the SDA, with the exception of real
					 property.
"Property" means real property and personal property,
					 either individually, or in combination, as the context indicates.
"Public party" means the State, or any political
					 subdivision of the State, or any agency or subsidiary thereof, or any entity
					 charged with the exercise of governmental functions.
"Public purpose" means an endeavor that is related to a
					 function of government and is consistent with the constraints of the bonds
					 referenced at
					 N.J.A.C.
					 19:35-1.1.
"Purchase agreement" means the entire and integrated
					 agreement between a purchasing party and the SDA, in such form as is required
					 by the transaction for the disposition of surplus real property.
"Real property" means any land in which title is held by
					 the SDA, or in which the SDA has a legal interest, whether improved or
					 unimproved, and includes structures, fixtures, appurtenances and other
					 permanent improvements, excluding moveable machinery and equipment.
"School construction program" means the program for the
					 construction of school facilities projects and related activities mandated by
					 the Act and undertaken by the SDA.
"School facilities project" means the planning,
					 acquisition, demolition, construction, improvement, alteration, modernization,
					 renovation, reconstruction, or capital maintenance of all, or any, part of a
					 school facility or of any other personal property necessary for, or ancillary
					 to, any school facility, and shall include fixtures, furnishings and equipment,
					 and if applicable, temporary facilities procured or constructed to facilitate
					 construction of a permanent school facility. A school facilities project shall
					 also include, but is not limited to, site acquisition, site development, the
					 services of design professionals, such as engineers and architects,
					 construction management, legal services, financing costs, and administrative
					 costs and expenses incurred in connection with the project.
"SDA" means the New Jersey Schools Development Authority,
					 an entity formed pursuant to
					 P.L.
					 2007, c. 137
					 (N.J.S.A.
					 52:18A-235 et seq.), as successor to the New
					 Jersey Schools Construction Corporation. The SDA is statutorily charged with
					 undertaking and funding school facilities projects for the school construction
					 program, pursuant to the Act.
"Sealed bid process" means a method of property disposition
					 that advertises particular property as available for sale pursuant to the
					 solicitation of competitive sealed bids received by a specified bid due date
					 and opened on a specified opening date.
"Surplus personal property" means personal property that,
					 pursuant to
					 N.J.A.C.
					 19:35-2.2, has been determined not to be
					 necessary, on a temporary or permanent basis, for the undertaking or management
					 of a school facilities project and not used or useful in the business
					 operations of the SDA.
"Surplus real property" means real property that, pursuant
					 to
					 N.J.A.C.
					 19:35-2.3, has been determined not to be
					 necessary, on a temporary or permanent basis, for the undertaking or management
					 of a school facilities project and not used or useful in the administrative
					 operations of the SDA.
"Use and/or occupancy agreement" means an agreement between
					 the SDA and a public or nonpublic party that provides for the short-term use
					 and/or occupancy of all or any part of surplus real property, but that does not
					 serve to transfer ownership from the SDA to such party.