New Jersey Administrative Code › Title 7 - ENVIRONMENTAL PROTECTION › Chapter 22 - FINANCIAL ASSISTANCE PROGRAMS FOR ENVIRONMENTAL INFRASTRUCTURE FACILITIES › Subchapter 4 - TRUST PROCEDURES AND REQUIREMENTS › Section 7:22-4.4 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
In addition to the words and terms defined at 7:22-3.4, the following words and terms, when used in this subchapter, will have the following meanings unless the context clearly indicates otherwise:
"Allowable costs" means those costs that are eligible, reasonable, necessary and allocable to the project; permitted by generally accepted accounting principles; and approved by the Trust in the Trust loan agreement. Allowable costs shall be determined on a project specific basis in accordance with N.J.A.C. 7:22-5.
"Applicant" means any project sponsor that applies for a Trust loan pursuant to the provisions of these rules and regulations.
"Differing site conditions" means conditions at the project site, which:
1. Differ materially from physical conditions (including subsurface and latent conditions) referred to in the plans, specifications and reports submitted under 7:22-4.11(d)7; and
2. Were not known to the applicant at the time the building contracts were executed.
"Final building cost" means the total actual allowable cost of the final work in place for the project, in accordance with the project scope as defined in the Trust loan agreement.
"Initiation of operation" means the date specified by the recipient in the Trust loan agreement on which use of the project begins for the purposes that it was planned, designed and built.
"Interim loan" means a type of Trust loan (as defined in 7:22-3.4 ) for the purpose of financing the allowable costs of an environmental infrastructure project for a period of less than one year.
"Private entity" means the owner(s) of a nongovernmental community water system, a nonprofit noncommunity water system or a person that sponsors a project to prevent, reduce or treat runoff from agricultural cropland activities, including farming operations, animal feeding operations and other animal-related sources.
"Project" means the defined services for the construction of specified operable facilities as approved by the Trust in the Trust loan agreement.
"Project scope" or "scope of work" means the scope of services and/or activities for which a Trust loan agreement has been executed by the Trust and a recipient.
"Project sponsor" means any local government unit or private entity that seeks a Trust loan pursuant to this subchapter.
"Recipient" means any project sponsor which has received preaward approval pursuant to 7:22-4.32 or a Trust loan pursuant to this subchapter.
"Responsible bidder" means a bidder that satisfactorily demonstrates to the Trust that it has:
1. Financial resources, technical qualifications, experience, organization and facilities adequate to carry out the project, or a demonstrated ability to obtain these;
2. Resources to meet the completion schedule contained in the subagreement;
3. A satisfactory performance record for completion of subagreements;
4. Accounting and auditing procedures adequate to control property, funds and assets; and
5. A demonstrated record of compliance or willingness to comply with the civil rights, equal employment opportunity, labor law and other statutory requirements under this subchapter.
"Trust loan agreement" means a legal instrument executed between the Trust and the recipient for the construction of environmental infrastructure facilities.