It’s not clear whether or not the plan can be accepted within the remaining weeks of Gov. Chris Christie’s administration or after Jan. sixteen, when Gov.-elect Phil Murphy succeeds Christie. The lease paperwork, dated Nov. 30, give Suntex 20 days to comply with the phrases. The events would then have 30 days to return to an settlement. Suntex can be required to host a public info session on the park inside these 30 days.
After that session, Geist stated, the proposed lease can be the topic of DEP evaluate, two public hearings and approval of the State Home Fee.
A request for remark from Murphy’s transition group was not returned.
Suntex would pay $900,000 in annual lease to the state for the primary three years, an quantity that will increase by between $one hundred fifty,000 and $250,000 yearly, based on the phrases of the proposed lease.
The lease paperwork point out Suntex must take cost of bulkhead restore that the DEP says might value the state as much as $forty three million. The lease would permit Suntex to pay decreased lease in change for paying as much as $25 million for bulkhead alternative and restore.
“On the finish of the day, this association would tackle a important drawback on the park whereas saving taxpayers tens of hundreds of thousands of dollars, the estimated value of the bulkhead restore undertaking,” Geist stated. “Furthermore, further lease revenues to the state would generated if the proposed expansions can be authorised.”