12:3-36 - Revocable lease or permit for nominal consideration; grant to new grantee; condition - New Jersey Statutes

12:3-36.  Revocable lease or permit for nominal consideration;  grant to new  grantee;  condition
    If the proper authority of the state, or a municipal or other subdivision thereof, applying for a grant of lands under section 12:3-33 of this title, shall be unable or unwilling to pay the price fixed by the board for such lands, the board may grant to such authority a revocable lease of or permit to use the lands for a public park, place, street or highway or dock purpose for a  nominal consideration until such time as the board shall decide to make a grant  in fee of the lands to such proper authority, or to other grantees, for such  consideration as the board may determine to be adequate compensation for such  lands.

    The revocable lease or permit may contain a provision that if the same shall  be revoked and the lands in question granted to a grantee other than such  proper authority, the new grantee shall pay, as a condition of his grant, the  cost of any improvement that may have been constructed upon the lands which  were the subject of the revocable lease or permit.