Buyer May Be Close on West Bay Avenue Property

It appears as if the 110-acre parcel of land that has been up for auction on West Bay Avenue may soon have a new owner, if actions taken Monday at the Barnegat Township Committee are any indicator.

Although township officials declined to identify a bidder, the Committee adopted a resolution that adjusted past due interests and penalties on the property. The resolution was necessary, according to Township Administrator David Breeden, so that the bid process could be finalized.

Under the terms of the resolution, the committee cut interest charges that had been waged on the property under the old owners from $61,000 to around $30,000, and other penalties were also cut in half. Under the terms of the resolution, the taxes will remain the same - $229,853, Breeden said.

The land was most recently owned by the now-bankrupt Shoreline Sand and Gravel and was being auctioned off by Sheldon Good and Company through a court sale in Trenton earlier this year. The bids were expected to open at $600,000.

Patch will update this story as a bidder is identified. 

The site had been used by Shoreline for extracting and distributing construction materials.  so cleanup will be needed once a bidder is found.