Rider selling property to Mercer County for $10M.
The county’s board of commissioners unanimously approved three resolutions last week that include plans to buy a 56-acre lot on the edge of campus, purchase the school’s presidential house and lease school facilities for a county office.
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The sale of part of its campus could bring in significantly more money.
The costliest of the three resolutions by Mercer County’s board authorized the county’s executive to negotiate a purchase not to exceed $7,511,871 for a 56-acre lot on the edge of the campus that would be preserved as open space and serve as a public access point for a future trail project, county administrator Dan Benson told NJ.com.
The county would be eligible to recoup up to 50% of the purchase cost through the state’s Green Acres Planning Incentive Grant program, Benson said.
The county commissioners also agreed to authorize spending up to $1,065,000 million to acquire a Rider-owned property on Lawrence Road that serves as a residence for the university’s president. The deal would include negotiating a lease agreement so Rider could continue to use the house.
The commissioners also approved a resolution to proceed with a seven-year facility use agreement that would tota $1,423,128 and run through 2033. The facilities would be used as a “strategic site” for the county’s Office of Emergency Management.