N.J. Stat. § 40:60-51.12: Leasing of municipal real estate to nonprofit entities

1. The governing body of any municipality may lease any real estate owned or controlled by it or any interest therein when, and to the extent that, it is not required for municipal purposes, to any not-for-profit corporation or not-for-profit association while it is used for the purposes of such organization in promoting the health, safety, morals and general welfare of the community and not for commercial business, trade, or manufacturing purposes, without costs or at a nominal rental.

L.1966,c.238,s.1; amended 2002,c.19.