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Bill

S 4737

Authorizes State Treasurer to sell as surplus certain real property and improvements in Borough of Lodi in Bergen County.

2024-2025 Regular Session Introduced by Paul Sarlo

New Jersey authorizes its State Treasurer to sell surplus state-owned real property in Lodi, Bergen County, generating revenue while reducing state maintenance costs.

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
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Bill Summary · S 4737

Legislative bill overview

S 4737 authorizes New Jersey's State Treasurer to sell specific real property and improvements owned by the state in Lodi, Bergen County, as surplus assets. The bill streamlines the process for divesting state-held real estate that is no longer needed for public purposes. This is a localized bill affecting only designated parcels in one municipality.

Why is this important

The sale of surplus state property can generate revenue for the state budget while potentially allowing private development or local use of underutilized public land. Property sales also reduce ongoing state maintenance costs and property tax obligations. For Lodi residents and officials, the outcome depends on what use replaces the current state ownership.

Potential points of contention

  • Lack of transparency on price and buyer: The bill doesn't specify sale price requirements or competitive bidding processes, raising concerns about whether the state receives fair market value
  • Local development impact unknown: No details provided about environmental assessments, zoning compatibility, or community input regarding what may be developed on the property
  • Limited public disclosure: The specific location and current use of the property aren't detailed in the bill summary, making it difficult for affected residents to evaluate the proposal

Compiled from official sources — confirm details with the bill’s official record.

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