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

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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