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Few, If Any, Parcels Will Be Conveyed for Free, Ft. Monmouth LRA Says

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  • November 2, 2011
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Municipalities, schools and other nonprofit organizations most likely will not be able to obtain property at the former Fort Monmouth for free, reported OceanportPatch.

“There is no one on the FMERA [Fort Monmouth Economic Revitalization Authority] team that believes that any NOI [notice of interest] property will be transferred at a dollar,” Bruce Steadman, the authority’s executive director, told the newspaper.

Steadman’s statement came as he refuted a story in the Asbury Park Press that said a local community college would be obtaining a building at the post for $1.

“The Army is requiring fair market value for every property,” Steadman said. There likely will be exceptions to that requirement, however, he noted.

Even if a local agency or nonprofit has formally expressed interest in a property — for a use that adheres to the reuse plan — the organization could lose out to a developer with a solid plan for job generation, according to the Patch.

“That’s FMERA’s responsibility to the Army and to the taxpayers of New Jersey,” Steadman said.

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