[Adopted 1-24-2019 by Ord. No. 2019-01[1]]
[1]
Editor's Note: This ordinance was originally adopted as Ch.
90 but was renumbered to maintain the organization of the Code.
Except as provided in N.J.S.A. 55:19-83, any property that has
not been legally occupied for a period of six months and which meets
any one of the following additional criteria may be deemed to be abandoned
property upon a determination by the designated public officer that:
A.
The property is in need of rehabilitation in the reasonable judgment
of the public officer, and no rehabilitation has taken place during
that six-month period;
B.
Construction was initiated on the property and was discontinued prior
to completion, leaving the building unsuitable for occupancy, and
no construction has taken place for at least six months as of the
date of the determination by the public officer pursuant to this section;
C.
At least one installment of property tax remains unpaid and delinquent on the property in accordance with Chapter 4 of Title 54 of the Revised Statutes as of the date of a determination by the public officer pursuant to this section; or
D.
The property has been determined to be a nuisance by the public officer
for one or more of the following reasons:
(1)
The property has been found to be unfit for human habitation, occupancy
or use pursuant to statute;
(2)
The condition and vacancy of the property materially increases the
risk of fire to the property and adjacent properties;
(3)
The property is subject to unauthorized entry leading to potential
health and safety hazards; the owner has failed to take reasonable
and necessary measures to secure the property; or the municipality
has secured the property in order to prevent such hazards after the
owner has failed to do so;
(4)
The presence of vermin or the accumulation of debris, uncut vegetation
or physical deterioration of the structure or grounds have created
potential health and safety hazards and the owner has failed to take
reasonable and necessary measures to remove the hazards; or
(5)
The dilapidated appearance or other condition of the property materially
effects the welfare, including the economic welfare, of the residents
of the area in close proximity to the property, and the owner has
failed to take reasonable and necessary measures to remedy the conditions.
A.
The construction officer is hereby identified as the public officer
and is authorized to identify abandoned property for the purpose of
establishing an abandoned property list throughout the municipality.
Each item of abandoned property so identified shall include the tax
block and lot number, the name of the owner of record, if known, and
the street address of the property.
B.
The construction officer shall create, establish and maintain a list
of abandoned properties, to be known as the abandoned property list.
The municipality may add properties to the abandoned property list
at any time, and may delete properties at any time when the construction
officer finds that the property no longer meets the definition of
an abandoned property.
C.
An abandoned property shall not be included on the abandoned property
list if rehabilitation is being performed in a timely manner, as evidenced
by building permits issued and diligent pursuit of rehabilitation
work authorized by those permits is occurring. A property on which
an entity other than the municipality has purchased or taken assignment
from the municipality of a tax sale certificate which has been placed
on the abandoned property list may be removed if the owner of the
certificate pays all municipal taxes and liens due on the property
within 30 days after the property is placed on the abandoned property
list; provided, however, that if the owner of the certificate fails
to initiate foreclosure proceedings within six months after the property
was first placed on the abandoned property list, the property shall
be restored to said list in accordance with the provisions of N.J.S.A.
55:19-103.
D.
The construction officer shall establish the abandoned property list and any additions thereto, by publication in an official newspaper of the municipality, which publication shall constitute public notice and, within 10 days after such publication, by sending a notice, by certified mail, return receipt requested, and by regular mail, to the owner of record of every property included on the list. The published and mailed notices shall identify property determined to be abandoned setting forth the owner of record, if known, the tax lot and block number as shown on the official tax map of the City of Ventnor and the street address. The construction officer, with the assistance and in consultation with the tax collector, shall also send out a notice by regular mail to any mortgagee, servicing organization, property tax processing organization that receives a duplicate copy of the tax bill pursuant to Subsection D of N.J.S.A. 54:4-64 and to any other lienholder known to the Tax Assessor concerning a particular property. When the owner of record is not known for a particular property and cannot be ascertained by the exercise of reasonable diligence by the tax collector, notice shall not be mailed but instead shall be posted on the property as provided by N.J.S.A. 40:48-2.7. All such mailed notices shall indicate the factual basis for the public officer's finding that the property is abandoned property specifying the information relied upon in making such a finding.
E.
In all cases, a copy of the mailed or posted notice shall be filed
by the construction officer in the office of the Atlantic County Clerk.
This filing shall have the same force and effect as a notice of lis
pendens under N.J.S.A. 2A:15-6. The notice shall be indexed by the
name of the property owner as defendant and the name of the City of
Ventnor as plaintiff as though an action had been commenced by the
municipality against the owner.
F.
The construction officer, within 10 days of the establishment of
the abandoned property list, or any additions thereto, shall send
by regular mail, facsimile or electronic mail, a copy of the abandoned
property list to the electric and gas utilities serving the municipality.
The construction officer is authorized to work in conjunction with
the City Administrator and City Clerk concerning any mailing or notice
requirements. However, only the construction officer shall make the
determination that a property is considered abandoned.
G.
An owner or lienholder may challenge the inclusion of his/her property
on the abandoned property list by appealing that determination to
the public officer within 30 days of the owner's receipt of the certified
notice or 40 days from the date upon which the notice was sent. An
owner whose identity was not known to the construction officer shall
have 40 days from the date upon which notice was published or posted,
whichever is later, to challenge the inclusion of a property on the
abandoned property list. For good cause shown, the construction officer
shall accept a late filing of an appeal. Within 30 days of receipt
of a request for an appeal of the findings contained in the notice
as described herein, the public officer shall schedule a hearing for
redetermination of the matter. Any property included on the list shall
be presumed to be abandoned property unless the owner, through the
submission of an affidavit or certification by the property owner
appearing that the property is not abandoned and stating the reasons
for such averment, can demonstrate that the property was erroneously
included on the list. The affidavit or certification shall be accomplished
by supporting documentation, such as, but not limited to, photographs,
repair invoices, bills and construction contracts. The sole ground
for appeal shall be that the property in question is not abandoned
property as the term is set forth in this section and statute. The
public officer shall decide any timely filed appeal within 10 days
of the hearing on the appeal and shall promptly, by certified mail,
return receipt requested, and by regular mail, notify the property
owner of the decision and the reasons therefor.
H.
The property owner may challenge an adverse determination of an appeal
with the public officer as described above, by instituting, in accordance
with the New Jersey Court Rules, a summary proceeding in the Superior
Court, Law Division, Atlantic County, which action shall be tried
de novo. Such action must be instituted within 20 days of the date
of the notice of decision mailed by the public officer as described
above. The sole ground for appeal shall be that the property in question
is not abandoned property as that term is defined herein and in state
statute. The failure to institute an action of appeal on a timely
basis shall constitute a jurisdictional bar to challenging the adverse
determination, except that, for good cause shown, the court may extend
the deadline for instituting the action.
I.
The construction officer shall promptly remove any property from
the abandoned property list that has been determined not to be abandoned
on appeal.
J.
The abandoned property list shall become effective, and the municipality
shall have the right to pursue any legal remedy with respect to properties
on the abandoned property list at such time as any one property has
been placed on the list in accordance with this article, upon the
expiration of the period for appeal with respect to that property
or upon the denial of an appeal brought by the property owner.
An owner may request removal of their property from the abandoned
property list prior to the sale of the tax sale certificate by paying
all taxes and City liens due, including interest and penalties, and:
A.
By posting cash or a bond equal to the cost of remediating all conditions
which led to the property being determined to be abandoned and by
posting cash or a bond to cover the cost of any environmental cleanup
required on the property, evidenced by a certification by a licensed
engineer retained by the owner and reviewed and approved by the Mayor
and Commissioners, stating that the cash or bond adequately covers
the cost of the cleanup; or
B.
By demonstrating to the satisfaction to the Mayor and Commissioners
that the conditions rendering the property abandoned have been remediated
in full; provided, however, that where the Mayor and Commissioners
find that the owner is actively engaged in remediating the conditions
because of which the property was determined to be abandoned, as evidenced
by significant rehabilitation activity on the property, the Mayor
and Commissioners may grant an extension of time of not more than
120 days for the owner to complete all work, during which time no
further proceedings will be taken against the owner or the property.
C.
If the owner has posted cash or a bond in order to have a property
removed from the abandoned property list and the conditions which
caused the property to be designated as abandoned have not been fully
remediated within one year of the date of the posting of the cash
or bond, or, in the case of a property which requires a remediation
of any known, suspected or threatened release of contaminants, if
the owner has failed to enter into a memorandum of agreement with
the New Jersey Department of Environmental Protection or an administrative
consent order, as the case may be, or if an agreement or order is
in effect but the owner has failed to perform the remediation in conformance
with the agreement or order, then the cash or bond shall be forfeited
to the City, which shall use the cash or bond and any interest which
has accrued thereon, for the purpose of demolishing or rehabilitation
of the property or performing the environmental remediation. Any funds
remaining after the property has been demolished, rehabilitated or
cleaned up shall be returned to the owner.
Notwithstanding the provisions of N.J.S.A. 54:5-19, or the provisions
of any other law to the contrary, if a property is included on the
abandoned property list and the property taxes or other City liens
due on the property are delinquent for six or more quarters as of
the date of expiration of the right to appeal the property's inclusion
on the list or, if an appeal has been filed, as of the date that all
opportunities for appeal of inclusion on the list have been exhausted,
then the tax lien on the property may be sold in accordance with the
procedures of the tax sale law on or after the 90th day following
the expiration of that time of appeal or final determination on an
appeal.
A.
The City of Ventnor may, in its sole option, require that the sale
of the tax sale certificate or any subsequent assignment or transfer
of a tax sale certificate held by the City be subject to the express
condition that the purchaser or assignee shall be obliged to perform
and conclude any rehabilitation or repairs necessary to remove the
property from the abandoned property list pursuant to N.J.S.A. 55:19-55
and to post a bond in favor of the City of Ventnor to guarantee the
rehabilitation or repair of the property. The Mayor and Commissioners
may waive a requirement to post a bond for any purchaser, assignee
or transferee of a tax sale certificate that provides documentation
acceptable to the Mayor and Commissioners that the purchaser, assignee
or transferee is a qualified rehabilitation entity as defined in N.J.S.A.
55:19-80. The cost of rehabilitation and repairs and the costs of
the bond shall be added to the amount required to be paid by the owner
for redemption of the property. The purchaser, assignee or transferee
of the tax sale certificate who is required to rehabilitate and repair
the property shall be required to file the appropriate affidavits
with the tax collector, pursuant to N.J.S.A. 54:5-62, representing
the amount of monies expended periodically toward the rehabilitation
or repair of the property. A purchaser, assignee or transferee shall
be entitled to interest on the amounts expended, as set forth in the
affidavits, at the delinquent rate of interest for delinquencies in
excess of $1,500 in effect for the time period when the amounts were
expended, pursuant to N.J.S.A. 54:4-67. The tax sale certificate purchaser,
assignee or transferee, with the authority and permission of the City
of Ventnor, shall be permitted to enter in and upon the property for
the purposes of appraising the costs of rehabilitation and repair
and to perform all other acts required to guarantee the completion
of the rehabilitation or repair of the property. No rehabilitation
or repair work shall be commenced; however, until proof of adequate
liability insurance and an indemnification agreement, holding the
City of Ventnor, its officials, employees and agents harmless, has
been filed with the City Clerk.
B.
If the City of Ventnor acquires a tax sale certificate for a property
on the abandoned property list, then, upon 10 days' written notice
to the property owner and any mortgagee as of the date of the filing
of the notice pursuant to N.J.S.A. 55:19-55, the City shall be permitted
to enter upon the property and remediate any conditions that caused
the property to be included on the abandoned property list. No remediation
shall be commenced; however, if within that ten-day period the owner
or mortgagee shall have notified the City, in writing, that the owner
or mortgagee has elected to perform the remediation itself. When the
owner or mortgagee elects to perform the remediation itself, it shall
be required to post bond in favor of the City of Ventnor in order
to insure performance. The amount and conditions of the bond shall
be determined by the Mayor and Commissioners.
C.
The costs of remediation incurred by the City of Ventnor, as certified
to by the entity incurring the cost upon completion of the remediation,
shall constitute a lien upon the property first in time and right
to any other lien, whether the other liens were filed prior to or
after the filing of any lien by the City, except for City taxes, liens
and assessments and any lien imposed pursuant to the Spill Compensation
and Control Act,[1] together with any interest thereon. The certification
of costs shall be filed and recorded as a lien by the entity incurring
the cost with the Atlantic County Clerk's Office.
[1]
Editor's Note: See N.J.S.A. 58:10-23.11 et seq.
D.
The clearance, development, redevelopment or repair of property being
maintained as an abandoned property pursuant to this chapter shall
be considered a public purpose and public use and the power of eminent
domain may be lawfully exercised.
The City of Ventnor may hold special tax sales with respect
to those properties eligible for special tax sale pursuant to N.J.S.A.
54:5-19 which are also on the abandoned property list.
A.
The Mayor and Commissioners shall establish criteria for eligibility
to bid on properties at the sale, which may include, but need not
be limited to:
(1)
Documentation of the bidder's ability to rehabilitate or otherwise
reuse the property consistent with City plans and regulations;
(2)
Commitments by the bidder to rehabilitate or otherwise reuse the
property, consistent with City plans and regulations;
(3)
Commitments by the bidder to take action to foreclose on the tax
lien by a date certain; and
(4)
Such other criteria as the Mayor and Commissioners may determine
are necessary to insure that the properties to be sold will be rehabilitated
or otherwise reused in a manner consistent with the public interest.
B.
The Mayor and Commissioners may establish minimum bid requirements
for a special tax sale that are less than the full amount of the taxes,
interest and penalties due, to help insure that the properties will
be rehabilitated or otherwise utilized in a manner consistent with
the public interest.
C.
The Mayor and Commissioners may combine properties in said special
tax sale into bid packages and require that bidders place a single
bid on each package, rejecting any and all bids on individual properties
that are submitted.
D.
The Mayor and Commissioners may sell said properties subject to the
provision that, if the purchaser fails to carry out any commitment
that has been set forth as a condition of sale or misrepresents any
material qualification that has been established as a condition of
eligibility to bid pursuant thereto, then the properties and any interest
thereto acquired by the purchasers shall revert to the City, and any
amount paid by the purchaser at the special tax sale shall be forfeited
to the City.
E.
In the event there are two or more qualified bidders for any property
or bid package in a special tax sale, the City may designate the unsuccessful
qualified bidder whose bid was closest to the successful bid as an
eligible purchaser. In the event that the selected purchaser of that
property or bid package fails to meet any of the conditions of sale
established by the City pursuant to this section and their interest
in the property or properties reverts to the City, the City may subsequently
designate the entity previously designated as an eligible purchaser
as the winning bidder for the property or properties, and assign the
tax sale certificates to that entity on the basis of that entity's
bid at the special tax sale, subject to the terms and conditions of
the special tax sale.
F.
The City of Ventnor shall provide notice of a special tax sale pursuant
to N.J.S.A. 54:5-26. The notice shall include any special terms of
sale established by the City pursuant to this section. Nothing shall
prohibit the City from holding a special tax sale on the same day
as a standard or accelerated tax sale.
A.
When a person or entity other than the City of Ventnor acquires a
tax sale certificate for a property on the abandoned property list
at tax sale, the purchaser may institute an action to foreclose the
right of redemption at any time after the expiration of six months
following the date of sale of the tax sale certificate.
B.
When the City of Ventnor is the purchaser at tax sale of any property on the abandoned property list pursuant to N.J.S.A. 54:5-34, an action to foreclose the right of redemption may be instituted in accordance with the provisions of Subsection B of N.J.S.A. 54:5-77.
C.
After the foreclosure action is instituted, the right to redeem shall
exist and continue to exist until barred by the Judgment of the Superior
Court; provided, however, that no redemption shall be permitted except
where the owner:
(1)
Posts cash or bond equal to the cost of remediating the conditions
which caused the property to be determined as abandoned pursuant to
N.J.S.A. 55:19-56, as determined by the Court; or
(2)
Demonstrates to the Court that the conditions which caused the property
to be determined as abandoned have been remedied in full.
A.
If any entity other than the City of Ventnor has purchased or taken
assignment from the City of a tax sale certificate on a property that
has not been legally occupied for a period of six months, that property
shall not be added to the abandoned property list under the following
limited circumstances:
(1)
The owner of the certificate has continued to pay all taxes and liens
on the property in the tax year when due; and
B.
A property used on a seasonal basis shall be deemed abandoned only
if it meets any two of the additional criteria as set forth in N.J.S.A.
55:19-81.
C.
A determination that a property is abandoned under the provisions
of this article and N.J.S.A. 55:19-78 et seq., shall not constitute
a finding that the use of the property has been abandoned for purposes
of municipal zoning or land use regulation.
D.
Upon the request of a purchaser or assignee of a tax sale certificate seeking to bar the right of redemption on an abandoned property pursuant to Subsection B of N.J.S.A. 54:5-86, the Mayor and Commissioners or the tax collector shall, in a timely fashion, provide the requester with a certification that the property fulfills the definition of an abandoned property according to the criteria established in N.J.S.A. 55:19-81 and 55:19-82.
A.
A summary action or other action to transfer possession and control
of abandoned property in need of rehabilitation to the City of Ventnor
may be brought by the City in the Superior Court, Atlantic County.
If the Court should find that the property is abandoned and that the
owner or party in interest has failed to submit and initiate a rehabilitation
plan, then the Court may authorize the City to take possession and
control of the property and to develop its own rehabilitation plan
for the property.
B.
Where the City has been granted possession and control, the City
may commence and maintain further proceedings for the conservation,
protection or disposal of the property, or any part thereof, that
are required to rehabilitate the property, recoup the costs and expenses
of rehabilitation, and for the sale of the property; provided, however,
that the Court shall not direct the sale of the property if the owner
applies to the Court for reinstatement of control and possession of
the property as permitted by N.J.S.A. 55:19-92.
C.
Failure by the owner, mortgage holder or lienholder to submit a plan
for rehabilitation to the City, obtain appropriate construction permits
or, in the alternative, submit formal applications for funding the
costs of rehabilitation to local, state or federal agencies providing
such funding, within the initial six-month period, shall be deemed
clear evidence that the owner has failed to take any action to further
rehabilitation of the property.
D.
An owner may defend against a complaint pursuant to N.J.S.A. 55:19-84
by submitting a plan for the rehabilitation and reuse of the property
which is the subject of the complaint and by posting a bond equal
to 125% of the amount determined by the Mayor and Commissioners, or
the Court, to be the projected cost of rehabilitation.
E.
Any plan submitted by an owner to defend against a complaint shall
be submitted within 60 days after the complaint has been filed, unless
the Court provides the owner with an extension of time for good cause
shown. A plan submitted by an owner pursuant to this section shall
include, but not be limited to:
(1)
A detailed financial feasibility analysis, including documentation
of the economic feasibility of the proposed reuse, including operating
budgets and resale prices, or both, as appropriate;
(2)
A budget for the rehabilitation of the property, including sources
and uses of funds, based on the terms and conditions of realistically
available financing, including grants and loans;
(3)
A timetable for the completion of rehabilitation and reuse of the
property, including milestones for performance of major steps leading
to and encompassing the rehabilitation and reuse of the property;
and
(4)
Documentation of the qualifications of the individuals and firms
that will be engaged to carry out the planning, design, financial
packaging, construction and marketing or rental of the property.
F.
Where the Court approves the rehabilitation plan of the owner or
other party in interest, then it may appoint the Mayor and Commissioners
to act as monitor of compliance and progress. If the owner fails to
carry out any step in the approved plan, then the City may apply to
the Court to have the posted bond forfeited, to transfer possession
of the building to the City to complete the rehabilitation plan, and
to grant authorization to use the bond proceeds for the rehabilitation.
The owner or other party in interest shall provide bimonthly reports
to the Mayor and Commissioners on its activities and progress toward
rehabilitation and reuse of the property.
G.
If an owner is unsuccessful in defending against a complaint filed
pursuant to N.J.S.A. 55:19-84, the mortgage holder or lienholder may
seek to be designated in possession of the property by submitting
a plan and posting a bond meeting the same conditions as set forth
in N.J.S.A. 55:19-87. Such plan must be submitted within 60 days following
the Court's rejection of the owner's plan, unless the Court provides
the mortgage holder or lienholder with an extension of time for good
cause shown. If the Court approves any such mortgage holder or lienholder's
plan, it shall designate that party to be in possession of the property
for purposes of insuring its rehabilitation.
H.
The mortgage holder or lienholder, as the case may be, shall provide
bimonthly reports to the Court and the Mayor and Commissioners on
its activities and progress for rehabilitation and reuse of the property.
If the mortgage holder or lienholder fails to carry out any material
step in the approved plan, then the Mayor and Commissioners shall
notify the Court, which may order the posted bond forfeited, grant
the City possession of the property, and authorize the City to use
the proceeds of the bond for rehabilitation of the property.
I.
Any sums incurred or advanced for the purpose of rehabilitating the
property by a mortgage holder or lienholder granted possession of
a property, including Court costs and reasonable attorneys' fees,
may be added to the unpaid balance due to that mortgage holder or
lienholder, with interest calculated at the same rate as set forth
in the note or security agreement, or, in the case of a tax lienholder,
at the statutory interest rate for subsequent liens.
J.
If no mortgage holder or lienholder meets the conditions of N.J.S.A.
55:19-88, then the City may submit a plan to the Court which conforms
with the provisions of N.J.S.A. 55:19-87. Such plan shall designate
whether the City or a qualified rehabilitation entity shall undertake
the rehabilitation plan in accordance with the provisions of N.J.S.A.
55:19-90.
A.
The Mayor and Commissioners may designate a qualified rehabilitation
entity for the purpose of exercising the City's rights, where that
designation will further the rehabilitation and reuse of the property
consistent with the City of Ventnor's plan and objectives.
B.
Regardless of whether the City exercises its rights directly or the
Mayor and Commissioners designate a qualified rehabilitation entity
pursuant to this article, the City shall maintain, safeguard and maintain
insurance on the property while in possession of such property. Notwithstanding
the City's possession of the property, the owner of the property shall
not be relieved of any civil or criminal liability or any duty imposed
by reason of acts or omissions of the owner.
C.
The Court may approve the borrowing of funds by the City to rehabilitate
the property and may grant a lien or security interest with priority
over all other liens or mortgages other than municipal liens. Prior
to granting this lien priority, the Court must find as follows:
(1)
The City sought to obtain the necessary financing from the senior
lienholder, which declined to provide such financing on reasonable
terms;
(2)
The City sought to obtain a voluntary subordination from the senior
lienholder, which refused to provide such subordination; and
(3)
Lien priority is necessary in order to induce another lender to provide
financing on reasonable terms. No lien authorized by the Court shall
take effect unless recorded with the Clerk of Atlantic County.
D.
Where the City has designated a qualified rehabilitation entity to
act on its behalf, the qualified rehabilitation entity shall provide
bimonthly reports to the Mayor and Commissioners on its activities
and progress toward rehabilitation and reuse of the property. The
City or qualified rehabilitation entity, as the case may be, shall
provide such reports to the Court as the Court determines to be necessary.
If the Court finds that the City or its designee have failed to take
diligent action toward rehabilitation of the property within one year
from the grant of possession, then the Court may request the City
designate another qualified rehabilitation entity to exercise its
rights or if the City fails to do so, may terminate the order of possession
and return possession and control of the property to its owner.
E.
The City of Ventnor shall file a notice of completion with the Court,
and shall also serve a copy on the owner and any mortgage holder or
lienholder, at such time as the City has determined that no more than
six months remain to the anticipated date on which rehabilitation
will be complete. This notice shall include an affidavit of the Mayor
and Commissioners, attesting that the rehabilitation is anticipated
to be completed within six months and a statement setting forth the
action it plans to undertake consistent with the plan.
A.
An owner may petition for reinstatement of the owner's control and
possession of the property at any time after one year from the Court's
removal of possession, but no later than 30 days after the City has
filed a notice of completion with the Court or, in the event the notice
of completion is filed within less than one year of the grant of possession,
within 30 days after the City has filed said notice.
B.
The Court may allow additional time for good cause if that additional
time does not materially delay completion of the rehabilitation, place
undue hardship on the City or affect any of the terms or conditions
under which the City has applied for or received financing for the
rehabilitation of the property.
C.
If the owner fails to petition for the reinstatement of control and
possession of the property within 30 days after the City has filed
a notice of completion or, in any event, within two years after the
initial grant of possession, or if the owner fails to meet any conditions
that may be set by the Court in granting a reinstatement petition,
the Court may grant the City title or authorize the City to sell the
property subject to the provisions of N.J.S.A. 55:19-96.
A.
The Mayor and Commissioners, with the approval of the Court, may
place a lien on the property to cover any costs of the City in connection
with any proceeding under N.J.S.A. 55:19-78 et seq., incurred prior
to the grant by the Court of an order of possession, which may include
costs incurred to stabilize or secure the property to insure that
it can be rehabilitated in a cost-effective manner. Any such lien
shall be considered a City lien for the purposes of N.J.S.A. 54:5-9,
with the rights and status of a City lien pursuant thereto.
B.
Where the City seeks to gain title to the property, it shall purchase
the property for fair market value on such terms as the Court shall
approve and may place the proceeds of sale in escrow with the Court.
C.
The Court may authorize the City of Ventnor to sell the building
free and clear of liens, claims and encumbrances, in which event all
such liens, claims and encumbrances shall be transferred to the proceeds
of the sale with the same priority that existed prior to resale in
accordance with the provisions of this section, except that municipal
liens shall be paid at settlement. The proceeds of the purchase of
the property shall be distributed as set forth in N.J.S.A. 55:19-97.
D.
Upon approval by the Court, the City shall sell the property on such
terms and at such price as the Court shall approve and may place the
proceeds of sale in escrow with the Court. The Court shall order a
distribution of the proceeds of sale after paying Court costs in order
of priority set forth in N.J.S.A. 55:19-97.
E.
With the exception of the holding of special tax sales pursuant to
N.J.S.A. 55:19-101, the remedies available under N.J.S.A. 55:19-78
et seq., shall be available to the City with respect to abandoned
property, whether or not the City has established an abandoned property
list and whether or not the property at issue has been included on
any such list.
