ASSEMBLY APPROPRIATIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4178

STATE OF NEW JERSEY

DATED:  MAY 15, 2025

      The Assembly Appropriations Committee reports favorably Assembly Bill No. 4178.

      As reported, this bill authorizes the State Treasurer to grant a temporary deed of easement for certain real property owned by the State within the Sea Girt National Training Center in the Borough of Sea Girt, Monmouth County.

      Under the bill, the State will grant a temporary deed of easement of 0.5175± acres to Confluence Networks LLC for the use of an existing underground telecom infrastructure for the installation of a new submarine cable system.  The temporary deed of easement will be for a term of 30 years for a one-time fee of $1,120,230, which represents the appraised value.

The State House Commission will set the terms and conditions of the temporary deed of easement.

      The easement was approved by the State House Commission at their meeting on November 20, 2023.

FISCAL IMPACT:

      The Office of Legislative Services (OLS) concludes that this bill will result in a one-time revenue increase to the State Debt Defeasance and Prevention Fund of $1,120,230 for the deed of easement granted to Confluence Networks LLC for a term of 30 years for the use of existing underground telecommunications infrastructure for the installation of a new submarine cable system.