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Fort Lee Parking Authority adopts increased state bid threshold of $53,000
Summary
The Authority adopted Local Finance Notice 2025-08 thresholds: a bid threshold of $53,000 and a quote threshold of $7,950 for units with a Qualified Purchasing Agent; the change aligns reporting thresholds with the Office of the State Comptroller.
Resolution 2025-42, adopted July 8, formally acknowledges and adopts the State’s revised bid threshold of $53,000 (effective July 1, 2025) and a corresponding quote threshold of $7,950 for contracting units employing a Qualified Purchasing Agent (QPA). The resolution refers to Local Finance Notice 2025-08 and notes the Office of the State Comptroller aligned contract reporting thresholds with the revised bid threshold.
The Authority directed the Qualified Purchasing Agent and Executive Director to implement the new thresholds and ensure compliance with public contracting and reporting requirements. The motion was made by Patricia Rumi, seconded by Michael Raskin, and approved unanimously.
