New Jersey Statutes 40:23-8.16. County facilities leased by nonprofit or charitable association; reimbursement of costs of renovation
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 40:23-8.16
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any county may appropriate an amount not to exceed $250,000.00 for payment to a nonprofit or charitable association of all or part of any costs incurred in the renovation or improvement of any building or structure owned by the county and leased, for a term of 21 years at a nominal consideration, to said association for use in the provision of health services. Any costs so incurred shall be reimbursable only to the extent that the renovations or improvements have served to enhance the value of said building or structure. The enhanced value due to such renovations or improvements shall be ascertained and certified to the board of chosen freeholders of said county at the termination of the lease.
L.1975, c. 71, s. 1, eff. Apr. 25, 1975.