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-1.4 - Application submission requirements for State incentive grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				  A developer that submits an application to the Authority for a State incentive
				  grant shall indicate on the application whether it is also applying for a local
				  incentive grant. In each instance where an applicant indicates that it is also
				  applying for a local incentive grant, the EDA shall forward a copy of the
				  application to the municipality wherein the redevelopment project is to be
				  located so that the local incentive grant may be reviewed and approved by
				  municipal ordinance. A developer or municipal redeveloper that submits an
				  application for a local incentive grant shall indicate on the application
				  whether it is also applying for a State incentive grant.
(b) A developer seeking a State incentive
				  grant shall submit to the Authority the following information in its
				  application:
1. The name of the
				  business;
2. The contact
				  information of the business;
3.
				  Prospective future address of the business (if different);
4. The type of the business;
5. Principal products and services and
				  three-digit North American Industry Classification System number;
6. The New Jersey tax identification
				  number;
7. The Federal tax
				  identification number;
8. An
				  anticipated construction schedule;
9. Estimated project costs, including any
				  State or local grant funding to the project, and proposed terms of financing,
				  including projected internal rate of return on developer's contributed capital,
				  net margin, return on investment, and cash on cash yield;
10. Estimates of the revenue increment base
				  and projection of the eligible revenues for the project, and the assumptions
				  upon which those estimates are made;
11. For qualified residential projects, a
				  certification that it meets the requirements at N.J.A.C.
				  19:31D-1.3(a)3;
12. Estimated costs
				  to the municipality resulting from the project;
13. A written certification by the chief
				  executive officer, or equivalent officer for North American operations,
				  stating:
i. That the business applying for the
				  program is not in default with any other program administered by the State of
				  New Jersey; and
ii. That he or she
				  has reviewed the application information submitted and that the representations
				  contained therein are accurate;
14. Disclosure of legal matters in accordance
				  with the Authority debarment and disqualification rules at N.J.A.C.
				  19:30-2;
15. Submission of an
				  application and fee for a tax clearance certificate pursuant to
				  P.L.
				  2007, c. 101;
16. A list of all development subsidies, as
				  defined by The Development Subsidy Job Goals Accountability Act,
				  P.L.
				  2007, c. 200
				  (N.J.S.A.
				  52:39-1 et seq.), that the applicant is
				  requesting or receiving, the name of the granting body, the value of each
				  development subsidy, and the aggregate value of all development subsidies
				  requested or received. Examples of development subsidies are tax benefits from
				  programs authorized pursuant to
				  P.L.
				  2004, c. 65;
				  P.L.
				  1996, c. 26; and
				  P.L.
				  2002, c. 43;
17. The status of control of the entire
				  redevelopment project site, shown for each block and lot of the site as
				  indicated upon the local tax map;
18. A list and status of all required State
				  and Federal government permits that have been issued for the redevelopment
				  project, or will be required to be issued pending resolution of financing
				  issues, as well as of all local planning and zoning board approvals, that are
				  required for the redevelopment project;
19. A description of how the project
				  addresses the factors contained at N.J.A.C. 19:31D-1.7(b);
20. A description of how the minimum
				  environmental and sustainability standards are to be incorporated into the
				  proposed project including use of renewable energy, energy-efficient
				  technology, and non-renewable resources in order to reduce environmental
				  degradation and encourage long-term cost reduction, as listed on the EDA
				  website at A copy of a letter of support from the governing body of the
				  municipality in which the proposed redevelopment project or ancillary
				  infrastructure project or infrastructure improvement in the right-of-way is
				  located; and
22. Any other
				  necessary and relevant information as determined by the applicant or the
				  Authority for a specific application.