New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31D - ECONOMIC REDEVELOPMENT AND GROWTH PROGRAM › Subchapter 1 - ECONOMIC REDEVELOPMENT AND GROWTH PROGRAM › Section 19:31D-1.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this
					 subchapter, shall have the following meanings, unless the context clearly
					 indicates otherwise.
"Ancillary infrastructure project" means structures or
					 improvements that are located within the incentive area, but outside the
					 project area of a redevelopment project, including, but not limited to, docks,
					 bulkheads, parking garages, freight rail spurs, roadway overpasses, and train
					 station platforms, provided a developer or municipal redeveloper has
					 demonstrated that the redevelopment project would not be economically viable or
					 promote the use of public transportation without such improvements, as approved
					 by the State Treasurer.
"Applicant" means a developer proposing to enter into a
					 redevelopment incentive grant agreement and may include a non-profit
					 organization to which a developer has assigned its ability to apply for a
					 redevelopment incentive grant.
"Authority" means the New Jersey Economic Development
					 Authority established under section 4 of P.L. 1974, c. 80 (N.J.S.A.
					 34:1B-4).
"Aviation district" means the area within a one-mile
					 radius of the outermost boundary of the "Atlantic City International Airport,"
					 established pursuant to section 24 of P.L. 1991, c. 252 (N.J.S.A.
					 27:25A-24).
"Deep poverty pocket" means a population census tract
					 having a poverty level of 20 percent or more, according to the 2010 U.S.
					 Census, and which is located within the incentive area.
"Developer" means any person who enters or proposes to
					 enter into a redevelopment incentive grant agreement or an approval letter
					 pursuant to the provisions of the Economic Redevelopment and Growth (ERG)
					 Program, or its successors or assignees, including, but not limited to, a
					 lender that has been approved by the Authority and the State Treasurer and that
					 completes a redevelopment project, operates a redevelopment project, or
					 completes and operates a redevelopment project, a municipal redeveloper, or
					 Rutgers, the State University of New Jersey.
"Developer contributed capital" means equity contributed
					 by the developer.
"Director" means the Director of the Division of Taxation
					 in the Department of the Treasury.
"Disaster recovery project" means a redevelopment project
					 located on property that has been wholly or substantially damaged or destroyed
					 as a result of a Federally declared disaster, and which is located within the
					 incentive area.
"Distressed municipality" means a municipality that is
					 qualified to receive assistance under P.L. 1978, c. 14 (N.J.S.A.
					 52:27D-178 et seq.), a municipality under the
					 supervision of the Local Finance Board pursuant to the provisions of the Local
					 Government Supervision Act, P.L. 1947, c. 151 (N.J.S.A. 52:27BB-1 et seq.), a
					 municipality identified by the Director of the Division of Local Government
					 Services in the Department of Community Affairs to be facing serious fiscal
					 distress, an SDA municipality, or a municipality in which a major rail station
					 is located.
"Eligibility period" means 10 years for qualified
					 residential projects, mixed use parking projects, or projects involving
					 university infrastructure, if the project receives tax credits or, for all
					 other redevelopment projects, the period of time specified in a redevelopment
					 incentive grant agreement for the payment of reimbursements to a developer,
					 which period shall not exceed 20 years, with the term to be determined solely
					 at the discretion of the applicant, at the time of approval.
"Eligible revenue" means any of the incremental revenues
					 set forth in
					 section
					 6 of
					 P.L.
					 2009, c. 90
					 (N.J.S.A.
					 52:27D-489f), except in the case of a Garden
					 State Growth Zone, in which the property tax increment and any other
					 incremental revenues are calculated as those incremental revenues that would
					 have existed notwithstanding the provisions of the New Jersey Economic
					 Opportunity Act of 2013,
					 P.L.
					 2013, c. 161.
"Equity" means cash, development fees, costs for project
					 feasibility incurred within the 12 months prior to application, Federal or
					 local grants, Federal tax credits, property value less any mortgages, and any
					 other investment by the developer in the project deemed acceptable by the
					 Authority in its sole discretion. Property value shall be valued at the lesser
					 of either the purchase price, provided the property was purchased pursuant to
					 an arm's length transaction within 12 months of application, or the value as
					 determined by a current appraisal acceptable to the Authority. For a qualified
					 residential project utilizing State low income housing tax credits awarded by
					 the New Jersey Housing and Mortgage Financing Agency, equity means the portion
					 of the developer's fee that is delayed for a minimum of five years.
"Fiscal impact analysis" means the analysis to be
					 undertaken by the Authority to determine if the project meets the requirement
					 of providing a net positive economic benefit to the State. For the purposes of
					 determining if the applicant fulfills the net positive economic benefit
					 requirement, the analysis needs to demonstrate that the project's net positive
					 economic benefit equals at least 110 percent of the amount of grant assistance,
					 for the period equal to 75 percent of the useful life of the project not to
					 exceed 20 years. The analysis will be an econometric model that uses project
					 data provided by the developer, including, but not limited to: full-time
					 employees at the qualified business facility in new and retained jobs, amount
					 of capital investment, type of project, occupancy characteristics, and
					 location; and by using this information, shall generate an estimate of direct
					 and indirect economic benefits, including without limitation, non-financial
					 community revitalization objectives including, but not limited to, objectives
					 memorialized in a municipal master plan or plan for an area in need of
					 redevelopment or rehabilitation, or the promotion of the use of public
					 transportation in the case of the ancillary infrastructure project portion of
					 any transit project, as deemed reasonable by the Authority, and projected
					 eligible revenues. This information may be supplemented by the use of industry
					 accepted estimates, that is, U.S. Department of Commerce Regional Input-Output
					 Modeling System data, when specific data is not available.
"Full-time employee at the qualified business facility"
					 means a full-time employee whose primary office is at the site and who spends
					 at least 80 percent of his or her time at the site, or who spends any other
					 period of time generally accepted by custom or practice as full-time employment
					 at the site, as determined by the Authority.
"Garden State Growth Zone" or "growth zone" means the four
					 New Jersey cities with the lowest median family income based on the 2009
					 American Community Survey from the U.S. Census, (Table 708. Household, Family,
					 and Per Capita Income and Individuals, and Families Below Poverty Level by
					 City: 2009); or a municipality which contains a Tourism District as established
					 pursuant to
					 section
					 5 of
					 P.L.
					 2011, c. 18
					 (N.J.S.A.
					 5:12-219) and regulated by the Casino
					 Reinvestment Development Authority.
"Highlands development credit receiving area or
					 redevelopment area" means an area located within an incentive area and
					 designated by the Highlands Council for the receipt of Highlands Development
					 Credits under the Highlands Transfer Development Rights Program authorized
					 under section 13 of
					 P.L.
					 2004, c. 120
					 (N.J.S.A.
					 13:20-13).
"Incentive grant" means reimbursement of all or a portion
					 of the project financing gap of a redevelopment project.
"Infrastructure improvements in the public right-of-way"
					 mean public structures or improvements located in the public right-of-way that
					 are located within a project area or that constitute an ancillary
					 infrastructure project and may include, but not be limited to, signalization
					 and new interchanges, public parking structures, and pedestrian,
					 bi-cycle-oriented, and mass transit improvements; and public utilities such as
					 water, sewer, electric, and gas, either of which are dedicated to or owned by a
					 governmental body or agency upon completion, or any required payment in lieu of
					 the structures, improvements, or projects or any costs of remediation
					 associated with the structures, improvements, or projects, and that are
					 determined by the Authority, in consultation with applicable State agencies, to
					 be consistent with and in furtherance of State public infrastructure objectives
					 and initiatives.
"Internal rate of return" means the discount rate at which
					 the present value of the future cash flows of an investment equal the cost of
					 the investment.
"Local incentive grant" means a grant made pursuant to a
					 redevelopment incentive grant agreement between a municipality and a developer,
					 or a municipal ordinance authorizing a project to be undertaken by a municipal
					 redeveloper, and which is subject to review by the Local Finance Board, in the
					 Division of Local Government Services, in the Department of Community Affairs.
"Low-income housing" means housing affordable according to
					 Federal Department of Housing and Urban Development or other recognized
					 standards for home ownership and rental costs and occupied or reserved for
					 occupancy by households with a gross household income equal to 50 percent or
					 less of the median gross household income for households of the same size
					 within the housing region in which the housing is located.
"Major rail station" means a railroad station located
					 within a qualified incentive area, which provides access to the public to a
					 minimum of six rail passenger service lines operated by the New Jersey Transit
					 Corporation.
"Minimum environmental and sustainability standards" means
					 the standards set forth in the green building manual prepared by the
					 Commissioner of the Department of Community Affairs pursuant to
					 section
					 1 of
					 P.L.
					 2007, c. 132
					 (N.J.S.A.
					 52:27D-130.6), regarding the use of renewable
					 energy, energy-efficient technology, and non-renewable resources in order to
					 reduce environmental degradation and encourage long-term cost reduction.
"Mixed use parking project" means a redevelopment project
					 consisting of a building or structure, the parking component of which shall
					 constitute 51 percent or more of any of the following: the total square footage
					 of the entire mixed use parking project; the estimated revenues of the entire
					 mixed use parking project; or the total construction cost of the entire mixed
					 use parking project.
"Moderate-income housing" means housing affordable,
					 according to United States Department of Housing and Urban Development or other
					 recognized standards for home ownership and rental costs, and occupied or
					 reserved for occupancy by households with a gross household income equal to
					 more than 50 percent, but less than 80 percent, of the median gross household
					 income for households of the same size within the housing region in which the
					 housing is located.
"Municipal redeveloper" means an applicant for a
					 redevelopment incentive grant agreement, which applicant is a municipal
					 government, a municipal parking authority, or a redevelopment agency acting on
					 behalf of a municipal government as defined in section 3 of P.L. 1992, c. 79
					 (N.J.S.A. 40A:12A-3); or a
					 developer of a mixed use parking project, provided that the parking component
					 of the mixed use parking project is operated and maintained by a municipal
					 parking authority for the term of any financial assistance grant pursuant to
					 P.L.
					 2015, c. 69.
"Municipal Revitalization Index" means the 2007 index by
					 the Office for Planning Advocacy, within the Department of State, measuring or
					 ranking municipal distress.
"Non-parking component" means that portion of a mixed use
					 parking project not used for parking, together with the portion of the costs of
					 the mixed use parking project, including, but not limited to, the footings,
					 foundations, site work, infrastructure, and soft costs that are allocable to
					 the non-parking use.
"Parking component" means that portion of a mixed use
					 parking project used for parking, together with the portion of the costs of the
					 mixed use parking project, including, but not limited to, the footings,
					 foundations, site work, infrastructure, and soft costs that are allocable to
					 the parking use.
"Project area" or "redevelopment project area" means land
					 or lands located within the incentive area under common ownership or control,
					 which shall be located in a qualifying economic redevelopment and growth grant
					 incentive area, including, but not limited to, control through a redevelopment
					 agreement with a municipality pursuant to
					 N.J.S.A.
					 40A:12A-1 et seq., or as otherwise
					 established by a municipality or a redevelopment agreement executed by a State
					 entity to implement a redevelopment project.
"Project cost" means the costs incurred in connection with
					 the redevelopment project by the developer until the issuance of a permanent
					 certificate of occupancy, or upon such other event evidencing project
					 completion as set forth in the incentive grant agreement, for a specific
					 investment or improvement, including the costs relating to receiving Highlands
					 Development Credits under the Highlands Transfer Development Rights Program
					 authorized pursuant to section 13 at
					 P.L.
					 2004, c. 120
					 (N.J.S.A.
					 13:20-13), lands, buildings, improvements,
					 real or personal property, or any interest therein, including leases discounted
					 to present value, including lands under water, riparian rights, space rights,
					 and air rights acquired, owned, developed, or redeveloped, constructed,
					 reconstructed, rehabilitated, or improved, any environmental remediation costs,
					 plus costs not directly related to construction, of an amount not to exceed 20
					 percent of the total costs, capitalized interest paid to third parties, and the
					 cost of infrastructure improvements, including ancillary infrastructure
					 projects, and, for projects located in a Garden State Growth Zone only, the
					 cost of infrastructure improvements including any ancillary infrastructure
					 project and the amount by which total project cost exceeds the cost of an
					 alternative location for the redevelopment project, but excluding any
					 particular costs for which the project has received Federal, State, or local
					 funding. For purposes of this definition, as determined by the Authority,
					 certain Federal tax credit programs that involve significant private
					 investment, including, but not limited to, the Low-Income Housing Tax Credit
					 administered by the New Jersey Housing and Mortgage Financing Agency, will not
					 be considered Federal funding.
"Project financing gap" means the part of the project costs
					 that remains to be financed after all other sources of capital have been
					 accounted for, including, but not limited to, developer contributed capital or
					 equity or other contributed capital or equity, which shall not be less than 20
					 percent of the eligible project cost, which may include the value of any
					 existing land and improvements in the project area owned or controlled by the
					 developer, and the cost of infrastructure improvements in the public
					 right-of-way, subject to review by the State Treasurer, and investor or
					 financial entity capital or loans for which the developer, after making all
					 good faith efforts to raise additional capital, certifies that additional
					 capital cannot be raised from other sources on a non-recourse basis, and except
					 for final point of sale retail businesses, including, but not limited to,
					 retail, educational, hospital, and hotel projects, the amount by which total
					 project costs exceed the cost of a viable alternative location for the
					 out-of-State redevelopment project in the event the business's chief executive
					 officer, or equivalent officer for North American operations, submits a
					 certification indicating that the project is at risk of leaving the State and
					 that the project would not occur, but for the provision of the incentive grant
					 under the program. When calculating the project financing gap, the factors set
					 forth at N.J.A.C. 19:31D-1.6(a)4, including, but not limited to, internal rate
					 of return on developer's contributed capital, and net profit margin, will be
					 considered. The project financing gap may be increased by the cost of capital
					 necessary to raise an amount of current capital sufficient to complete the
					 project when combined with all other sources of capital in recognition that the
					 incremental eligible revenues will be reimbursed over an estimated period of
					 years. A qualified residential project utilizing State low income housing tax
					 credits awarded by the New Jersey Housing and Mortgage Financing Agency
					 (NJHMFA) will be determined to have a project financing gap if the developer
					 cannot achieve the fee authorized by NJHMFA within five years after the project
					 is placed in operation, provided that in no event shall the sum of the tax
					 credits awarded under this subchapter and the State low income housing tax
					 credits awarded by the New Jersey Housing and Mortgage Financing Agency exceed
					 ninety percent of the total development cost.
"Qualified incubator facility" means a commercial building
					 located within an incentive area: which contains 100,000 or more square feet of
					 office, laboratory, or industrial space; which is located near, and presents
					 opportunities for collaboration as demonstrated by a written agreement with, a
					 research institution, teaching hospital, college, or university; and within
					 which, at least 75 percent of the gross leasable area is restricted for use by
					 one or more technology startup companies during the commitment period.
"Qualified residential project" means a redevelopment
					 project for which a developer must submit a temporary certificate of occupancy
					 by July 28, 2019, that is predominantly residential and includes multi-family
					 residential units for purchase or lease, or dormitory units for purchase or
					 lease, having a total project cost of at least $ 17,500,000, if the project is
					 located in any municipality with a population greater than 200,000 according to
					 the latest Federal decennial census, or having a total project cost of at least
					 $ 10,000,000 if the project is located in any municipality with a population
					 less than 200,000 according to the latest Federal decennial census, or is a
					 disaster recovery project, or having a total project cost of $ 5,000,000 if the
					 project is in a Garden State Growth Zone. A qualified residential project shall
					 not include transitional or homeless units.
"Qualifying economic redevelopment and growth grant
					 incentive area" or "incentive area" means an aviation district, a port
					 district, a distressed municipality, or an area:
1. Designated as Planning Area 1 (Metropolitan), Planning
					 Area 2 (Suburban), or Planning Area 3 (Fringe Planning Area), pursuant to the
					 State Planning Act, P.L. 1985, c. 398 (N.J.S.A.
					 52:18A-196 et seq.); or
2. Located within:
i. A smart growth area and planning area designated in a
					 master plan adopted by the New Jersey Meadowlands Commission pursuant to
					 subsection (i) of section 6 of P.L. 1968, c. 404 (N.J.S.A.
					 13:17-6) or subject to a redevelopment plan
					 adopted by the New Jersey Meadowlands Commission pursuant to section 20 of P.L.
					 1968, c. 404 (N.J.S.A. 13:17-21);
ii. Any land owned by the New Jersey Sports and Exposition
					 Authority, established pursuant to P.L. 1971, c. 137 (N.J.S.A.
					 5:10-1 et seq.), within the boundaries of the
					 Hackensack Meadowlands District as delineated in section 4 at P.L. 1968, c. 404
					 (N.J.S.A.
					 13:17-4), including the sports complex, that
					 is, the 750-acre sports and exposition site located in the Borough of East
					 Rutherford under the jurisdiction of the New Jersey Sports and Exposition
					 Authority as of February 5, 2015, the effective date of
					 P.L.
					 2015, c. 19
					 (N.J.S.A.
					 5:10A-1 et seq.), and such additional
					 property that is owned and controlled by the New Jersey Sports and Exposition
					 Authority as may be designated by the Meadowlands Regional Commission, as
					 established pursuant to P.L. 1971, c. 137 (N.J.S.A.
					 5:10-1 et seq.), P.L. 1968, c. 404
					 (N.J.S.A.
					 13:17-1 et seq.), and section 6 at
					 P.L.
					 2015, c. 19
					 (N.J.S.A.
					 5:10A-6) from time-to-time as part of the
					 sports complex;
iii. A regional growth area, a rural development area zoned
					 for industrial use as of December 5, 2016, the effective date of
					 P.L.
					 2016, c. 75, a town, a
					 village, or a military and Federal installation area designated in the
					 comprehensive management plan prepared and adopted by the Pinelands Commission
					 pursuant to the Pinelands Protection Act, P.L. 1979, c. 111 (N.J.S.A.
					 13:18A-1 et seq.);
iv. The planning area of the Highlands Region as defined in
					 section
					 3 of
					 P.L.
					 2004, c. 120
					 (N.J.S.A.
					 13:20-3) or in a highlands development credit
					 receiving area or redevelopment area;
v. A Garden State Growth Zone;
vi. Land approved for closure under any Federal Base
					 Closure and Realignment Commission action; or
vii. Only the following portions of the areas designated
					 pursuant to the State Planning Act, P.L. 1985, c. 398 (N.J.S.A.
					 52:18A-196 et seq.), as Planning Area 4A
					 (Rural Planning Area), Planning Area 4B (Rural/Environmentally Sensitive), or
					 Planning Area 5 (Environmentally Sensitive). This subparagraph shall only apply
					 if Planning Area 4A (Rural Planning Area), Planning Area 4B
					 (Rural/Environmentally Sensitive), or Planning Area 5 (Environmentally
					 Sensitive) is located within:
(1) A designated center under the State Development and
					 Redevelopment Plan;
(2) A designated growth center in an endorsed plan until
					 the State Planning Commission revises and readopts New Jersey's State Strategic
					 Plan and adopts rules to revise this definition as it pertains to Statewide
					 planning areas;
(3) Any area determined to be in need of redevelopment
					 pursuant to sections 5 and 6 of P.L. 1992, c. 79 (N.J.S.A.
					 40A:12A-5 and
					 40A:12A-6) or in need of
					 rehabilitation pursuant to section 14 of P.L. 1992, c. 79 (N.J.S.A.
					 40A:12A-14);
(4) Any area on which a structure exists or previously
					 existed, including any desired expansion of the footprint of the existing or
					 previously existing structure, provided the expansion otherwise complies with
					 all applicable Federal, State, county, and local permits and approvals;
(5) The planning area of the Highlands Region as defined in
					 section
					 3 of
					 P.L.
					 2004, c. 120
					 (N.J.S.A.
					 13:20-3) or a highlands development credit
					 receiving area or redevelopment area; or
(6) Any area on which an existing tourism destination
					 project is located.
"Qualifying economic redevelopment and growth grant
					 incentive area" or "incentive area" shall not include any property located
					 within the preservation area of the Highlands Region as defined in the
					 Highlands Water Protection and Planning Act,
					 P.L.
					 2004, c. 120
					 (N.J.S.A.
					 13:20-1 et seq.).
"Redevelopment incentive grant agreement" means an
					 agreement between the State Treasurer, the Authority, and a developer, or a
					 municipality and a developer, or a municipal ordinance authorizing a project to
					 be undertaken by a municipal redeveloper, under which, in exchange for the
					 proceeds of an incentive grant, the developer agrees to perform any work or
					 undertaking necessary for a redevelopment project, including the clearance,
					 development, or redevelopment, construction, or rehabilitation of any structure
					 or improvement of commercial, industrial, residential, or public structures or
					 improvements within a qualifying economic redevelopment and growth grant
					 incentive area or a transit village.
"Redevelopment project" or "project" means a specific
					 construction project or improvement, including lands, buildings, improvements,
					 real and personal property or any interest therein, including lands under
					 water, riparian rights, space rights, and air rights, acquired, owned, leased,
					 developed, or redeveloped, constructed, reconstructed, rehabilitated, or
					 improved, undertaken by a developer, owner or tenant, or both within a project
					 area and any ancillary infrastructure project including infrastructure
					 improvements in the public right-of-way, as set forth in an application to be
					 made to the Authority. The use of the term "redevelopment project" in
					 sections
					 3 through
					 18 of
					 P.L.
					 2009, c. 90
					 (N.J.S.A.
					 52:27D-489c et seq.) shall not be limited to
					 only redevelopment projects located in areas determined to be in need of
					 redevelopment pursuant to sections 5 and 6 of P.L. 1992, c. 79 (N.J.S.A.
					 40A:12A-5 and 6) but shall also include, but
					 not be limited to, any work or undertaking in accordance with the Redevelopment
					 Area Bond Financing Law,
					 sections
					 1 through
					 10 of
					 P.L.
					 2001, c. 310
					 (N.J.S.A. 40A:12A-64 et seq.) or
					 other applicable law, pursuant to a redevelopment plan adopted by a State
					 entity, or as described in the resolution adopted by a public entity created by
					 State law with the power to adopt a redevelopment plan or otherwise determine
					 the location, type, and character of a redevelopment project or part of a
					 redevelopment project on land owned or controlled by it or within its
					 jurisdiction, including, but not limited to, the New Jersey Meadowlands
					 Commission established pursuant to P.L. 1968, c. 404 (N.J.S.A.
					 13:17-1 et seq.), the New Jersey Sports and
					 Exposition Authority established pursuant to P.L. 1971, c. 137 (N.J.S.A.
					 5:10-1 et seq.), and the Fort Monmouth
					 Economic Revitalization Authority created pursuant to
					 P.L.
					 2010, c. 51
					 (N.J.S.A.
					 52:27I-18 et seq.).
"Retained job" means a position that currently exists in
					 New Jersey and is filled by a current employee but which, as certified by the
					 business's chief executive officer, is at risk of being lost to another state
					 or country.
"Revenue increment base" means the amounts of all eligible
					 revenues from sources within the redevelopment project area in the calendar
					 year preceding the year in which the redevelopment incentive grant agreement is
					 executed, as certified by the State Treasurer for State revenues.
"SDA district" means an "SDA district" as defined in
					 section
					 3 of
					 P.L.
					 2000, c. 72
					 (N.J.S.A. 18A:7G-3).
"SDA municipality" means a municipality in which an SDA
					 district is situated.
"Square feet" means the sum of all areas on all floors of
					 a building included within the outside faces of its exterior walls, including
					 all vertical penetration areas, for circulation and shaft areas that connect
					 one floor to another, disregarding cornices, pilasters, buttresses, and similar
					 structures, that extend beyond the wall faces.
"Square feet of gross leasable area" or "gross leasable
					 area" means rentable area of the building as calculated pursuant to the
					 measuring standards of the project. This standard will be defined in the lease
					 for tenant applicants. The rentable area measures the tenant's pro rata portion
					 of the entire office floor, including public corridors, restrooms, janitor
					 closets, utility closets, and machine rooms used in common with other tenants,
					 but excluding elements of the building that penetrate through the floor to
					 areas below. The rentable area of a floor is fixed for the life of a building
					 and is not affected by changes in corridor sizes or configuration.
"Technology startup company" means a for-profit business
					 that has been in operation fewer than five years and is developing or possesses
					 a proprietary technology or business method of a high technology or life
					 science-related product, process, or service that the business intends to move
					 to commercialization.
"Tourism destination project" means a redevelopment
					 project that will be among the most visited privately owned or operated tourism
					 or recreation sites in the State, and which is located within the incentive
					 area and has been determined by the Authority to be in an area appropriate for
					 development and in need of economic development incentive assistance.
"Transit project" means a redevelopment project located
					 within a one-half-mile radius, or one-mile radius for projects located in a
					 Garden State Growth Zone, surrounding the mid-point of a New Jersey Transit
					 Corporation, Port Authority Transit Corporation, or Port Authority Trans-Hudson
					 Corporation rail, bus, or ferry station platform area, including all light rail
					 stations. For the purposes of determining the transit project bonus pursuant to
					 N.J.A.C. 19:31D-1.7(e)4, a bus station platform is a terminal as listed on the
					 EDA's website at
www.njeda.com
.
"Transit village" means a community with a bus, train,
					 light rail, or ferry station that has developed a plan to achieve its economic
					 development and revitalization goals and designated by the New Jersey
					 Department of Transportation as a transit village.
"University infrastructure" means any of the following
					 located on the campus of Rutgers, the State University of New Jersey: buildings
					 and structures, such as academic buildings, recreation centers, indoor athletic
					 facilities, public works garages, and water and sewer treatment and pumping
					 facilities; open space with improvements, such as athletic fields and other
					 outdoor athletic facilities, planned commons, and parks; and transportation
					 facilities, such as bus shelters and parking facilities.
"Urban transit hub" means an urban transit hub, as defined
					 in section 10 of
					 P.L.
					 2007, c. 346
					 (N.J.S.A.
					 34:1B-208), that is located within an
					 eligible municipality, as defined in section 10 of
					 P.L.
					 2007, c. 346
					 (N.J.S.A.
					 34:1B-208), or all light rail stations and
					 property located within a one-mile radius of the mid-point of the platform area
					 of such a rail, bus, or ferry station if the property is in a qualified
					 municipality under the Municipal Rehabilitation and Economic Recovery Act,
					 P.L.
					 2002, c. 43 (N.J.S.A.
					 52:27BBB-1 et seq.).
"Vacant commercial building" means any commercial building
					 or complex of commercial buildings having over 400,000 square feet of office,
					 laboratory, or industrial space that is more than 70 percent unleased and
					 unoccupied at the time of application to the Authority or is negatively
					 impacted by the approval of a "qualified business facility," as defined
					 pursuant to
					 section
					 2 of
					 P.L.
					 2007, c. 346
					 (N.J.S.A.
					 34:1B-208), or any unleased and unoccupied
					 commercial building in a Garden State Growth Zone having over 35,000 square
					 feet of office, laboratory, or industrial space, or over 200,000 square feet of
					 office, laboratory, or industrial space in Atlantic, Burlington, Camden, Cape
					 May, Cumberland, Gloucester, Ocean, or Salem counties available for occupancy
					 for a period of over one year.
"Vacant health facility project" means a redevelopment
					 project where a health facility, as defined by section 2 of P.L. 1971, c. 136
					 (N.J.S.A.
					 26:2H-2), currently exists and is considered
					 vacant. A health facility shall be considered vacant if at least 70 percent of
					 that facility has not been open to the public or utilized to serve any patients
					 at the time of application to the Authority.