New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31J - PETROLEUM UNDERGROUND STORAGE TANK REMEDIATION, UPGRADE AND CLOSURE FUND › Subchapter 1 - PETROLEUM UNDERGROUND STORAGE TANK REMEDIATION, UPGRADE AND CLOSURE FUND › Section 19:31J-1.8 - Application for financial assistance

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Upon
				  determination of eligibility by the Department, the Department shall notify the
				  Authority of the eligibility of the applicant, and the total amount of eligible
				  project costs and the amount of remediation costs for which the applicant is
				  unable to establish a remediation funding source.
(b) The applicant will be given priority for
				  financial assistance based on the date of receipt by the Authority of a
				  completed application, subject to the priority system set forth at
				  N.J.A.C.
				  19:31-11.5.
(c) If the application is determined by the
				  Authority to be incomplete, the applicant shall have 30 days from receipt of
				  written notice of incompleteness to file any additional information required by
				  the Authority.
(d) If the applicant
				  fails to file the additional information within the 30-day period, the filing
				  date for the application shall be the date the additional information is
				  received by the Authority.
(e) A
				  change in the filing date resulting from failure to submit a completed
				  application or from failure to submit the application fee in a timely fashion
				  for applications filed for financial assistance for a regulated tank to meet
				  the upgrade or closure requirements pursuant to 42 U.S.C. §§ 6991 et
				  seq., or P.L. 1986, c. 102 (N.J.S.A. 58:10A-21 et
				  seq.) or for the remediation of a discharge from any such regulated tank shall
				  not render the application ineligible for financial assistance as long as the
				  initial date of application is prior to June 30, 2010, or for a regulated tank
				  that is not operational, 18 months from the date of discovery of the tank or
				  June 30, 2010, whichever is later.
(f) A completed application from an applicant
				  shall include, if applicable as determined by the Authority:
1. A history and description of the
				  applicant's business;
2. A
				  description of the proposed project and a detailed breakdown of the use of the
				  financial assistance proceeds;
3.
				  Annual financial statements for the three most recent years, including the
				  balance sheets, operating statements and reconciliations of the source and
				  application of funds, or, for an individual, copies of Federal income tax
				  returns for the three most recent years;
4. A current personal financial statement, if
				  the most recent annual financial statement is more than six months
				  old;
5. Three years of projections,
				  including the balance sheet, operating statement, reconciliation of the source
				  and application of funds, and a detailing of the assumptions used in preparing
				  the projections;
6. A list of the
				  applicant's five largest customers, including the customer name, address,
				  telephone number, and contact person;
7. A list of the applicant's five largest
				  suppliers, including the supplier name, address, telephone number, and contact
				  person;
8. A schedule of all
				  officers, directors and stockholders (owning 10 percent or more of the stock),
				  including resumes and signed, dated personal financial statements, EDA
				  application, tax clearance certificate and property deed; and
9. Submission of an application and fee for a
				  tax clearance certificate pursuant to
				  P.L.
				  2007, c.
				  101.