New Jersey § 40a:12-14

§ 40a:12-14.

Any county or municipality may lease any real property, capital improvement or personal

property not needed for public use as set forth in the resolution or ordinance authorizing

the lease, other than county or municipal real property otherwise dedicated or restricted

pursuant to law, and except as otherwise provided by law, all such leases shall be

made in the manner provided by this section. (a) In the case of a lease to a private person, except for a lease to a private person

for a public purpose as provided in subsection (j) of section 15 of P.L.1971, c. 199

( C.40A:12-15 ) or for agricultural or horticultural use as provided in section 2 of P.L.2006, c. 52 ( C.40A:12-14.1 ) , said lease shall be made to the highest bidder by open public bidding at auction

or by submission of sealed bids. Advertisement of the method of bidding shall be published in a newspaper circulating

in the municipality or municipalities in which the leasehold is situated by two insertions

at least once a week during two consecutive weeks; the lease publication to be not

earlier than seven days prior to the letting of the lease. The governing body may, by resolution, fix a minimum rental with the reservation

of the right to reject all bids where the highest bid is not accepted. Notice of such reservation shall be included in the advertisement of the letting

of the lease and public notice thereof shall be given of the time of the letting of

the lease. Such resolution may provide that upon the completion of the bidding, the highest

bid may be accepted or all of the bids may be rejected. It shall also set out the conditions, restrictions and limitations upon the tenancy

subject to the lease. Acceptance or rejection of the bid or bids shall be made not later than at the second

regular meeting of the governing body following the completion of the bidding, and,

if the governing body shall not so accept such highest bid, or reject all bids, said

bids shall be deemed to have been rejected. Any such award may be adjourned at the time advertised for not more than one week

without readvertising. (b) In the case of a lease to a public body, the lease may be upon such terms and

conditions and for nominal or other consideration as the governing body of the county

or municipality shall approve by ordinance or resolution. (c) In the case of a lease to a nonprofit corporation or association for a public

purpose, the lease shall be authorized by resolution, in the case of a county, or

by ordinance, in the case of a municipality, and may be for nominal or other consideration. Said authorization shall include the nominal or other consideration for the lease;

the name of the corporation or corporations who shall be the lessees; the public

purpose served by the lessee; the number of persons benefiting from the public purpose

served by the lessee, whether within or without the municipality in which the leasehold

is located; the term of the lease, and the officer, employee or agency responsible

for enforcement of the conditions of the lease. Said ordinance or resolution shall also require any nonprofit corporation holding

a lease for a public purpose pursuant to this section, to annually submit a report

to the officer, employee or agency designated by the governing body, setting out the

use to which the leasehold was put during each year, the activities of the lessee

undertaken in furtherance of the public purpose for which the leasehold was granted;

the approximate value or cost, if any, of such activities in furtherance of such purpose;

and an affirmation of the continued tax-exempt status of the nonprofit corporation

pursuant to both State and federal law. (d) In the case of a lease to a housing corporation or resident first-time homebuyer

for the public purposes, and pursuant to the provisions of P.L.1983, c. 335 ( C.55:18-1 et seq. ), the lease shall be authorized by ordinance by a municipality.