reglab/statecodes huggingface dataset:
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-1.7 - Approval of application for State incentive grant

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				  Authority and the State Treasurer may, except in the case of a qualified
				  residential project, mixed use parking project, or project involving university
				  infrastructure, approve an application only if they make a finding that the
				  State revenues to be realized from the redevelopment project will be in excess
				  of the amount necessary to reimburse the developer for the portion of the
				  project financing gap allocable to the State incentive grant. This finding may
				  be made by an estimation based upon the professional judgment of the Chief
				  Executive Officer of the Authority and the State Treasurer.
(b) In deciding whether or not to recommend
				  entering into a redevelopment incentive agreement, the Chief Executive Officer
				  shall consider the following factors prior to approval:
1. The economic feasibility of the
				  redevelopment project;
2. The
				  extent of economic and related social distress in the municipality and the area
				  to be affected by the redevelopment project or the level of site specific
				  distress to include dilapidated conditions, brownfields designation,
				  environmental contamination, pattern of vacancy, abandonment, or
				  under-utilization of the property, rate of foreclosures, or other site
				  conditions as determined by the Authority;
3. The degree to which the redevelopment
				  project will advance State, regional and local development and planning
				  strategies;
4. The likelihood that
				  the redevelopment project shall, upon completion, be capable of generating new
				  tax revenue in an amount in excess of the amount necessary to reimburse the
				  developer for project costs incurred as provided in the redevelopment incentive
				  grant agreement, provided, however, that any tax revenue generated by a
				  redevelopment project that is a disaster recovery project shall be considered
				  new tax revenue, even if the same or more tax revenue was generated at or on
				  the site prior to the disaster;
5.
				  The relationship of the redevelopment project to a comprehensive local
				  development strategy, including other major projects undertaken within the
				  municipality;
6. The need of the
				  redevelopment incentive grant agreement to the viability of the redevelopment
				  project or the promotion of the use of public transportation; and
7. The degree to which the redevelopment
				  project enhances and promotes job creation and economic development or the
				  promotion of the use of public transportation.
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-1.12 - Affirmative action and prevailing wage

Current through Register Vol. 56, No. 14, July 15, 2024
The Authority's affirmative action requirements P.L. 1979,
					 c. 203 (N.J.S.A. 34:1B-5.4) and prevailing
					 wage requirements
					 P.L.
					 2007, c. 245
					 (N.J.S.A.
					 34:1B-5.1) will apply to State incentive
					 grant projects undertaken in connection with financial assistance received
					 under the Economic Redevelopment and Growth Program; and, for a State incentive
					 grant solely for infrastructure improvements in the public right-of-way or any
					 ancillary infrastructure project, regardless of whether the work or
					 improvements are part of a larger redevelopment project, only to the work
					 relating to the infrastructure improvements in the public right-of-way or the
					 ancillary infrastructure project for which the incentive grant is
					 issued.
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-1.13 - Appeals

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board's
				  action on applications shall be effective 10 business days after the Governor's
				  receipt of the minutes, provided neither an early approval nor veto has been
				  issued.
(b) An applicant may appeal
				  the Board's action by submitting in writing to the Authority, within 20
				  calendar days from the date of the Board's action, an explanation as to how the
				  applicant has met the program criteria. Such appeals are not contested cases
				  subject to the requirements of the Administrative Procedure Act,
				  N.J.S.A.
				  52:14B-1 et seq., and 52:14F-1 et seq., and
				  the Uniform Administrative Procedure Rules, N.J.A.C. 1:1.
(c) Appeals that are timely submitted shall
				  be handled by the Authority as follows:
1.
				  The Chief Executive Officer shall designate an employee of the Authority to
				  serve as a hearing officer for the appeal and to make a recommendation on the
				  merits of the appeal to the Board. The hearing officer shall perform a review
				  of the written record and may require an in-person hearing. The hearing officer
				  has sole discretion to determine if an in-person hearing is necessary to reach
				  an informed decision on the appeal. The Authority may consider new evidence or
				  information that would demonstrate that the applicant meets all of the
				  application criteria.
2. Following
				  completion of the record review and/or in-person hearing, as applicable, the
				  hearing officer shall issue a written report to the Board containing his or her
				  finding(s) and recommendation(s) on the merits of the appeal. The hearing
				  officer's report shall be advisory in nature. The Chief Executive Officer, or
				  equivalent officer, of the Authority may also include a recommendation to the
				  written report of the hearing officer. The applicant shall receive a copy of
				  the written report of the hearing officer, which shall include the
				  recommendation of the Chief Executive Officer, if any, and shall have the
				  opportunity to file written comments and exceptions to the hearing officer's
				  report within five business days from receipt of such report.
3. The Board shall consider the hearing
				  officer's report, the recommendation of the Chief Executive Officer, or
				  equivalent officer, if any, and any written comments and exceptions timely
				  submitted by the applicant. Based on that review, the Board shall issue a final
				  decision on the appeal.
4. Final
				  decisions rendered by the Board shall be appealable to the Superior Court,
				  Appellate Division, in accordance with the Rules Governing the Courts of the
				  State of New Jersey.
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-1.14 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, subsection, provision, clause, or portion
					 of this subchapter is adjudged to be unconstitutional or invalid by a court of
					 competent jurisdiction, the remaining portions of this subchapter shall not be
					 affected thereby.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31E - MAIN STREET RECOVERY FINANCE PROGRAM › Subchapter 1 - MAIN STREET RECOVERY FINANCE PROGRAM › Section 19:31E-1.1 - Applicability and scope

Current through Register Vol. 56, No. 14, July 15, 2024
The New Jersey Economic Development Authority is
					 promulgating this subchapter to establish criteria for products that provide
					 grants to small businesses, loans and grants to microbusinesses, and loans and
					 grants to eligible lending entities as part of the Main Street Recovery Finance
					 Program, which utilizes the Main Street Recovery Fund, in accordance with the
					 Main Street Recovery Finance Program Act, sections 82 through 88 of the New
					 Jersey Economic Recovery Act of 2020,
					 P.L.
					 2020, c. 156
					 ((N.J.S.A. 34:1B-349 et seq.), as
					 amended at P.L. 2021, c.
					 160.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31E - MAIN STREET RECOVERY FINANCE PROGRAM › Subchapter 1 - MAIN STREET RECOVERY FINANCE PROGRAM › Section 19:31E-1.5 - Grant and loan agreements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) For
				  loans, upon satisfaction of conditions in the commitment letter, as determined
				  by the Authority, but before the disbursement of loan funds, the entity shall
				  execute a loan agreement. For grants, following approval by the Authority, but
				  before the disbursement of grant funds, the entity shall enter into a grant
				  agreement with the Authority, provided that the terms of the grant approved to
				  a microbusiness lender in conjunction with a loan shall be included in the loan
				  agreement. All grant agreements and loan agreements shall include, but not be
				  limited to, the following provisions:
1. The
				  amount of the financial assistance and the frequency and dates of
				  disbursements;
2. The term of the
				  agreement;
3. A detailed
				  description of the specific use for which the financial assistance was
				  approved;
4. Representations that
				  the entity is in substantial good standing or meets the agreement requirements
				  described at N.J.A.C. 19:31E-1.4(d)1;
5. A provision requiring the entity to return
				  to the Authority all the financial assistance disbursed if the Authority
				  determines that the entity made a material misrepresentation on its
				  application, which shall be in addition to any other remedies in the agreement
				  and any criminal or civil penalties to which the entity and any corresponding
				  officer may be subject;
6. A
				  provision permitting an audit from time-to-time, as the Authority deems
				  necessary, of all evidence, records, or any other evidence of the entity
				  supporting the representations and certifications made as part of the
				  application, the agreements, and any annual reports;
7. A requirement for the entity to indemnify
				  the Authority in relation to the loan or grant agreement and the uses of the
				  loan or grant funds and a requirement for insurance from the entity, as
				  determined by the Authority, based on the product and the amount and permitted
				  use of the financial assistance;
8.
				  Reporting requirements determined by the Authority to be necessary to verify
				  that the financial assistance is used only for the approved use; and
9. Defaults and remedies.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31E - MAIN STREET RECOVERY FINANCE PROGRAM › Subchapter 1 - MAIN STREET RECOVERY FINANCE PROGRAM › Section 19:31E-1.6 - Fees

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In
				  administering the products established under the Program, the Authority shall
				  apply fees to applicants as set forth at N.J.A.C. 19:30-6, except:
1. No fee shall be required for applications
				  from small businesses for any grant products; and
2. The Authority may waive any or all fees
				  from microbusinesses for any product based on factors such as the prevailing
				  economic conditions, the size of the award, and the purpose of the
				  product.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31E - MAIN STREET RECOVERY FINANCE PROGRAM › Subchapter 1 - MAIN STREET RECOVERY FINANCE PROGRAM › Section 19:31E-1.7 - Affirmative action and prevailing wage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In addition to the employee minimum wage
				  requirements set forth at N.J.A.C. 19:31E-1.5(b)4, for small business grant
				  products, the Authority's prevailing wage requirements at
				  P.L.
				  2007, c. 245
				  (N.J.S.A.
				  34:1B-5.1), and
				  N.J.A.C.
				  19:30-3.4, shall apply to the extent required
				  pursuant to N.J.A.C. 19:31E-1.3(a)4ii.
(b) In addition to the employee minimum wage
				  requirements set forth at N.J.A.C. 19:31E-1.5(b)4, for all other products, the
				  Authority's prevailing wage requirements at
				  P.L.
				  2007, c. 245
				  (N.J.S.A.
				  34:1B-5.1), and
				  N.J.A.C.
				  19:30-3.4, shall apply to projects undertaken
				  in connection with financial assistance received from the Fund.
(c) The Authority's affirmative action
				  requirements at P.L. 1979, c. 303 (N.J.S.A.
				  34:1B-5.4), and N.J.A.C. 19:30-3 shall apply
				  commencing with August 26, 2021, the effective date of this subchapter, to
				  projects undertaken in connection with financial assistance received under the
				  Fund.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31E - MAIN STREET RECOVERY FINANCE PROGRAM › Subchapter 1 - MAIN STREET RECOVERY FINANCE PROGRAM › Section 19:31E-1.9 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, subsection, provision, clause, or portion
					 of this subchapter is adjudged to be unconstitutional or invalid by a court of
					 competent jurisdiction, the remaining portions of this subchapter shall not be
					 affected thereby.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.1 - Applicability and scope

Current through Register Vol. 56, No. 14, July 15, 2024
The rules in this subchapter are promulgated by the New
					 Jersey Economic Development Authority to implement the New Jersey Local
					 Development Financing Fund Act (P.L. 1983, c. 190). This Act established the
					 Local Development Financing Fund, a special depository fund for the purpose of
					 providing financial assistance to certain commercial and industrial projects in
					 certain municipalities who sponsor these projects.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.3 - Application for financial assistance

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each
				  application for financial assistance from the Fund shall be accompanied by a
				  non-refundable application fee of $ 1,000. A non-refundable commitment fee of
				  .875 percent of the loan amount is charged with the acceptance by an applicant
				  of a direct loan commitment under the Local Development Financing Fund. The fee
				  to be paid at closing is .875 percent of the loan amount. If financial
				  assistance is provided from the Fund to purchase a participation in a bank
				  loan, a non-refundable fee of $ 750.00 is charged with the acceptance of a
				  commitment under the Fund. A closing fee is not charged for a bank
				  participation from the Fund.
(b)
				  Each application for financial assistance from the Fund shall be accompanied by
				  evidence of the support of the municipality in which the project is located.
				  For purposes of these rules, evidence of municipal support shall mean an
				  approved resolution of the governing body of the municipality.
(c) Each application for financial assistance
				  from the Fund shall be accompanied by a benefit statement prepared by the
				  applicant. The benefit statement shall address:
1. The number of permanent jobs to be created
				  in the municipality in which the project is located, excluding the period of
				  construction or development;
2. The
				  number of jobs preserved by the completion of the project in the case of an
				  existing enterprise;
3. The
				  increase in the valuation of real property in the municipality as a result of
				  the completion of the project;
4.
				  Whether the project will result in the maintenance or provision of at least the
				  same number of housing units at comparable rates as exists prior to the
				  undertaking of the project;
5.
				  Whether the project will be located in an area targeted for economic
				  development and receiving Federal, State and/or local development assistance
				  under other programs;
6. The extent
				  to which the project will contribute to an economic revitalization of the
				  municipality and/or the region;
7.
				  The extent to which the project will advance State and/or regional planning and
				  development strategies; and
8. The
				  extent to which the location of the project is accessible to and promotes the
				  use of public transportation.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.4 - Financial assistance

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No more than
				  20 percent of the total financial assistance provided from the Fund shall be in
				  the form of grants or other non-lending assistance.
(b) The total amount of financial assistance
				  provided to project applicants in any county during any year shall not exceed
				  20 percent of the appropriation made during that year to the Fund.
(c) No financial assistance from the Fund
				  shall be granted to an individual applicant project unless at least 50 percent
				  of the total eligible project cost consists of private resources. For purposes
				  of these rules, private resources shall include, but are not limited to:
1. Conventional private sector
				  mortgages;
2. Purchase money
				  mortgages;
3. Industrial Revenue
				  Bonds;
4. Leases;
5. Loans guaranteed by the Federal Small
				  Business Administration, or similar loan guarantees of other governmental
				  and/or quasi-governmental entities; and
6. Equity investments in the
				  project.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.5 - Terms of financial assistance

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The minimum
				  loan amount from the Fund shall be $ 50,000 and the maximum loan amount from
				  the Fund shall be $ 2,000,000.
(b)
				  The Authority shall determine the term and the interest rate to be charged on a
				  loan from the fund through consideration and official action of the Members at
				  a public hearing.
(c) Factors to be
				  considered in establishing additional interest rate basis points above the
				  floor previously established by the Board may include, among others:
1. The applicant's
				  creditworthiness;
2. The quality of
				  collateral;
3. The number of jobs
				  maintained or expanded in New Jersey;
4. The location/municipality of
				  project;
5. The industry
				  type;
6. The increase in tax
				  ratable values;
7. Leveraging of
				  total project costs to public dollars;
8. Whether the business is new to the State
				  or expanding operation in the State; and
9. Whether the applicant is locating to a
				  former brownfield site.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.6 - Evaluation of applications

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				  Authority shall evaluate and rank each application for financial assistance
				  considering the following factors:
1. The
				  number of unemployed persons in the municipality in which the project is
				  located;
2. The number of permanent
				  full-time jobs to be created and/or maintained directly by the project,
				  excluding the period of construction or development;
3. The number of jobs preserved by the
				  completion of the project for an existing enterprise that otherwise would leave
				  the State;
4. The increase in the
				  valuation of real property in the municipality as a result of the completion of
				  the project;
5. The percentage of
				  the total eligible project costs to be financed from private and/or other
				  public sources;
6. Whether the
				  project results in the maintenance or provision of at least the same number of
				  housing units at comparable rates that exist prior to the undertaking of the
				  project within the municipality or surrounding area;
7. Whether the project will be located in an
				  area targeted for economic development and/or will be receiving Federal, State
				  and/or local development incentives under other programs;
8. The extent to which the project will
				  contribute to an economic revitalization of a municipality or region, and will
				  promote or add to the rehabilitation of the physical environment of the
				  immediate area or municipality in which it is to be located;
9. The degree to which the project will
				  facilitate the advancement of State or regional planning development
				  strategies;
10. The extent to which
				  the locations of the project are accessible to and/or promote the use of public
				  transportation;
11. The degree of
				  support for, participation in, and/or consultation about the project, within
				  the community in which the project will be located;
12. The likelihood that the project will
				  create and/or preserve private sector jobs, which will last for a period of at
				  least two years; and
13. The
				  likelihood that the project will result in providing a significant increase in
				  the real property tax base of the municipality in which the project is
				  located.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.7 - Minority and women business set-aside plans and requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each project
				  approved to receive financial assistance from the Fund shall set a target level
				  of the aggregate project construction costs for the purpose of providing
				  contracting opportunities for minority businesses and women
				  businesses.
(b) The developer
				  and/or general contractor of the project shall identify the minority and/or
				  women businesses that will participate in the project by construction trade,
				  together with the contract sum to be paid to each minority business.
(c) In determining the target level and
				  compliance therewith, a developer and/or general contractor must proceed in
				  accordance with N.J.A.C. 12A:10-2.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31F - LOCAL DEVELOPMENT FINANCING FUND › Subchapter 1 - LOCAL DEVELOPMENT FINANCING FUND › Section 19:31F-1.8 - Rescission of financial assistance from the Fund

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				  Authority may at its discretion rescind part or all of the financial assistance
				  from the Fund when it has become evident after the granting of financial
				  assistance that:
1. The commitment of other
				  financial resources from private sources has been withdrawn;
2. The project is judged no longer capable of
				  repaying the Fund for the financial assistance it has received;
3. The project is judged incapable of
				  achieving its target requirement, pursuant to N.J.A.C. 19:31F-1.7, or that the
				  project is not employing good faith efforts to achieve the requirements
				  pursuant to N.J.A.C. 19:31F-1.7; or
4. The participants in the project are found
				  not to be of a good moral character. Such a finding may be based on convictions
				  of felony offenses or any other conduct of the applicant which may be viewed in
				  a nonfavorable light by a reasonable person.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.1 - Applicability and scope

Current through Register Vol. 56, No. 14, July 15, 2024
The rules in this subchapter are promulgated by the New
					 Jersey Economic Development Authority to implement those sections at P.L. 1993,
					 c.139 which pertain to the Hazardous Discharge Site Remediation Fund. This Act
					 established the Hazardous Discharge Site Remediation Fund, a special, revolving
					 fund for the purpose of financing remediation activities at sites at which
					 there is, or is suspected of being, a discharge of hazardous substances or
					 hazardous waste.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.3 - Eligibility

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Financial assistance from the Fund may be
				  made for eligible projects to public entities for:
1. Implementation of remedial action on
				  contaminated real property; and
2.
				  Remediation on contaminated sites, or on sites at which there is an imminent
				  and significant threat of a discharge of a hazardous substance or hazardous
				  waste, and such discharge poses or would pose in imminent and significant
				  threat to a drinking water source, to human health, or to a sensitive or
				  significant ecological area.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.4 - Lien provision

Current through Register Vol. 56, No. 14, July 15, 2024
Any expenditure of grant monies by a public entity for a
					 remedial action in a brownfield development area for real property in which the
					 public entity does not have an ownership interest shall constitute a debt of
					 the real property owner to the fund. The authority shall cause to be filed in
					 the county recording office of the county in which the real property is located
					 a notice of lien listing the name of the real property owner, a description of
					 the real property subject to the remedial action and an identification of the
					 amount of the grant awarded from the fund. The notice of lien shall have
					 priority over all other claims or liens which have been filed against the real
					 property, except as provided in the act. The lien shall be removed upon
					 transfer of ownership of the real property to the public entity that expended
					 grant monies for remedial action on that real property.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.5 - Financial assistance: term; interest rate; transfer of title

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Loans from
				  the Fund or loans guaranteed by the Fund shall be for a term of not more than
				  10 years.
(b) Loans to public
				  entities shall bear an interest rate equal to two points below the Federal
				  Discount Rate at the time of approval or at the time of loan closing, whichever
				  is lower, except that the rate shall be no lower than three percent. Loans to
				  persons shall bear an interest rate equal to the Federal Discount Rate at the
				  time of approval or at the time of the loan closing, whichever is lower, with a
				  minimum floor of five percent.
(c)
				  Upon transfer of ownership of any real estate for which a loan was made from
				  the Fund or a loan was guaranteed by the Fund, the unpaid balance of the loan
				  shall become immediately due and payable. Notwithstanding the foregoing, the
				  unpaid balance of the loan that is transferred by devise or succession shall
				  not become immediately payable in full, and loan repayments shall be made by
				  the new title holder of the real property.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.6 - Amount of financial assistance and grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Financial
				  assistance and grants may be for up to 100 percent of the estimated applicable
				  remediation costs, except that the cumulative maximum amount of financial
				  assistance to a person in any calendar year, for one or more properties, shall
				  be $ 500,000.
(b) Financial
				  assistance and grants to any one public entity shall not exceed $ 3,000,000 in
				  any calendar year, except as provided at (c) below.
(c) The Authority may award an additional
				  amount of up to $ 2,000,000 of financial assistance and grants in any calendar
				  year to any one public entity for the remediation of real property in a
				  brownfield development area.
(d)
				  The total cumulative amount of matching grants awarded to public entities for
				  up to 75 percent of the costs of the remedial action of real property to be
				  used for recreation and conservation purposes, for up to 75 percent of the
				  costs of the remedial action for renewable energy generation or for up to 50
				  percent of the costs for affordable housing, shall not exceed $ 10,000,000 in
				  any calendar year.
(e) The amount
				  of financial assistance or grant awarded shall be based upon a scope of work
				  for remediation which is in compliance with N.J.A.C. 7:26D, 7:26E, 7:26B, and
				  7:14B, as applicable.
(f) The
				  amount of a grant for costs of a remedial action shall not include the cost to
				  remediate a site to meet residential soil remediation standards if the local
				  zoning ordinances do not allow for residential use.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.7 - Priority system for financial assistance and grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An eligible
				  proposal, as determined by the Department, for financial assistance or a grant
				  from the Fund shall be given priority for financial assistance or a grant by
				  the Authority based on the date of receipt by the Authority of a completed
				  application, readiness to proceed with remediation as determined by the
				  Department and the Authority, and the availability of sufficient moneys in the
				  Fund for the purpose of the financial assistance or grant, subject to credit
				  approval by the Authority and other criteria as established by this section in
				  the following order of priority:
1. Sites on
				  which there has been a discharge and the discharge poses an imminent and
				  significant threat to a drinking water source, to human health, or to a
				  sensitive or significant ecological area;
2. Sites that are owned by a municipality in
				  a brownfield development area; and
3. Sites in areas designated as Planning Area
				  1 (Metropolitan) and Planning Area 2 (Suburban) pursuant to the State Planning
				  Act, P.L. 1985, c. 398 (N.J.S.A. 52:18A-196
				  et seq.).
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.8 - Non-profit pilot program

Current through Register Vol. 56, No. 14, July 15, 2024
In accordance with the Act, an allocation from the Fund in
					 an amount not to exceed $ 5,000,000 shall be set aside for a Non-Profit Pilot
					 Program. Pursuant to this Pilot Program, grants may be made for eligible
					 projects to non-profit organizations for the purpose of funding preliminary
					 assessment, site investigation and remedial investigation of real property that
					 has been contaminated or is suspected of being contaminated by the discharge of
					 a hazardous substance. All of the limitations and conditions for the award of
					 financial assistance and grants applicable to municipalities pursuant to the
					 provisions of the Brownfields and Contaminated Site Remediation Act,
					 N.J.S.A.
					 58:10B-1.1 through 3.1, shall apply to the
					 award of grants to non-profit organizations under this section.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.10 - Evaluation process for financial assistance and grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When all of
				  the required information is received, the Authority will perform its own
				  underwriting criteria. For public entities, all Local Finance Board
				  requirements must be satisfied.
(b)
				  After completing (a) above, a determination shall be made as to the merits of
				  the request, the likelihood of repayment, and the adequacy of the collateral
				  available to secure the requested financial assistance.
(c) If a positive determination is made, the
				  requested financial assistance or grant shall be presented to the Members for
				  approval.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.11 - Approval process for financial assistance and grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Only the
				  Members can approve financial assistance or a grant, except that Authority
				  staff may approve a request for grant or financial assistance as delegated to
				  them by the Authority Members.
(b)
				  When the Members approve financial assistance or a grant, the minutes of the
				  meeting at which such approval occurs are submitted to the Governor.
(c) The Members' approval is effective 10
				  working days after the Governor's receipt of the minutes, provided no
				  gubernatorial veto of this action has occurred.
(d) If there has been no veto, a formal
				  commitment letter, award closing package, notice of approval of financial
				  assistance, or grant, is issued to the applicant.
1. The notice of approval will contain all
				  material terms, conditions and collateral required by the Authority and will
				  include personal guarantees of owners of 10 percent or more of the applicant
				  and corporate, partnership or limited liability company guarantees of any
				  companies related to the applicant. There may be a requirement for collateral
				  apart from the applicant's collateral to secure the
				  guarantees.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.12 - Disbursement of financial assistance and grants

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All requests
				  for disbursements of the financial assistance or grant must be submitted by the
				  applicant to the Department with a certification from the contractor or
				  consultant that the requested moneys will be spent or have been spent in
				  accordance with a Department-approved scope of work and a certification from
				  the applicant that it is in full compliance with all of the terms and
				  conditions of the assistance agreement. Disbursements are subject to certain
				  preconditions, including, among other things, approval by the Department of the
				  remediation contracts and all previously performed work.
(b) The recipient of the financial assistance
				  or grant must provide access, to the Authority and the Department, at
				  reasonable times to the subject property to determine compliance with the terms
				  and conditions of the financial assistance or grant.
(c) In the case of a grant or financial
				  assistance, payment will be conditioned upon the subrogation to the Department
				  of all rights of the recipient to recover remediation costs from the insurance
				  carrier, discharger, or person in any way responsible for a hazardous substance
				  pursuant to N.J.S.A. 58:10-23.118 who does not have a defense to that liability
				  pursuant to
				  N.J.S.A.
				  58:10-23.11(g). All moneys
				  collected in a cost recovery subrogation action shall be deposited into the
				  Fund. No award of a grant or financial assistance shall be made if the
				  applicant relinquishes, impairs, or waives, or has relinquished, impaired or
				  waived, any right to recover the costs of remediation against any insurance
				  carrier, discharger or person in any way responsible for a hazardous substance
				  pursuant to
				  N.J.S.A.
				  58:10-23.11(g).
(d) Where financial assistance to a person is
				  for a portion of the remediation cost, the applicant will be required to
				  provide evidence that all moneys for which a remediation funding source has
				  been established, have been expended, before the proceeds of the financial
				  assistance will be disbursed.
(e)
				  Upon request, the recipient of financial assistance or grant shall provide the
				  Authority with evidence that the monies are being spent in accordance with the
				  Department-approved scope of work, and that it is adhering to the terms and
				  conditions of its agreement with the Authority.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.13 - Attorney General review

Current through Register Vol. 56, No. 14, July 15, 2024
All financing documents, including the Application, are
					 subject to review by the Attorney General's Office.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.14 - Fees

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Application fees shall be charged as
				  follows:
1. A $ 500.00 non-refundable fee
				  shall be due upon submittal of an application for financial assistance or
				  grant;
2. Additional non-refundable
				  application fees for financial assistance are as follows: $ 500.00 or one-half
				  of one percent of the financial assistance, whichever is greater, shall be
				  charged upon the acceptance of financial assistance under the Fund; and $
				  500.00 or one-half of one percent of the financial assistance, whichever is
				  greater, shall be charged at closing.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.15 - Public record

Current through Register Vol. 56, No. 14, July 15, 2024
All information submitted to the Department and/or the
					 Authority as part of an application for financial assistance or grant shall be
					 deemed a public record subject to the provisions at P.L. 1963, c. 73
					 (N.J.S.A.
					 47:1A-1 et seq.).
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.16 - Appeals

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board's
				  action shall be effective 10 business days after the Governor's receipt of the
				  minutes, provided neither an early approval nor veto has been issued.
(b) An applicant may appeal the Board's
				  action by submitting, in writing, to the Authority, within 20 calendar days
				  from the effective date of the Board's action, an explanation as to how the
				  applicant has met the program criteria. Such appeals are not contested cases
				  subject to the requirements of the Administrative Procedure Act,
				  N.J.S.A.
				  52:14B-1 et seq., or 52:14F-1 et seq., and
				  the Uniform Administrative Procedure Rules, N.J.A.C. 1:1.
(c) Appeals that are timely submitted shall
				  be handled by the Authority, as follows:
1.
				  The Chief Executive Officer shall designate an employee of the Authority to
				  serve as a hearing officer for the appeal and to make a recommendation on the
				  merits of the appeal to the Board. The hearing officer shall perform a review
				  of the written record and may require an in-person hearing. The hearing officer
				  has sole discretion to determine if an in-person hearing is necessary to reach
				  an informed decision on the appeal. The Authority may consider new evidence or
				  information that would demonstrate that the applicant meets all of the
				  application criteria.
2. Following
				  completion of the record review and/or in-person hearing, as applicable, the
				  hearing officer shall issue a written report to the Board containing his or her
				  finding(s) and recommendation(s) on the merits of the appeal. The hearing
				  officer's report shall be advisory in nature. After reviewing the report, the
				  Chief Executive Officer of the Authority may also include a recommendation to
				  the written report of the hearing officer. The applicant shall receive a copy
				  of the written report of the hearing officer, which shall include the
				  recommendation of the Chief Executive Officer, if any, and shall have the
				  opportunity to file written comments and exceptions to the hearing officer's
				  report within five business days from receipt of such report.
3. The Board shall consider the hearing
				  officer's report, the recommendation of the Chief Executive Officer, if any,
				  and any written comments and exceptions timely submitted by the applicant.
				  Based on that review, the Board shall issue a final decision on the
				  appeal.
4. Final decisions rendered
				  by the Board shall be appealable to the Superior Court, Appellate Division, in
				  accordance with the Rules Governing the Courts of the State of New
				  Jersey.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31G - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Subchapter 1 - HAZARDOUS DISCHARGE SITE REMEDIATION FUND › Section 19:31G-1.17 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If any section, subsection, provision, clause, or portion
					 of this subchapter is adjudged to be unconstitutional or invalid by a court of
					 competent jurisdiction, the remaining portions of this subchapter shall not be
					 affected thereby.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31H - URBAN TRANSIT HUB TAX CREDIT PROGRAM › Subchapter 1 - URBAN TRANSIT HUB TAX CREDIT PROGRAM › Section 19:31H-1.3 - Eligibility criteria

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In order to
				  be eligible to be considered for an urban transit hub tax credit:
1. For a qualified business facility, if the
				  business is other than a tenant, the business shall:
i. Make or acquire capital investments in a
				  qualified business facility totaling not less than $ 50,000,000. The capital
				  investments of the owner shall include capital investments made by a tenant and
				  may include any tenant allowance provided by the owner in the lease and any
				  tenant improvements funded by a tenant(s), but only to the extent necessary to
				  meet the owner's minimum capital investment of $ 50,000,000 provided that the
				  owner so indicate in his application or certification and further provided that
				  such tenant allowance or tenant improvements meet the definition of capital
				  investment;
ii. Employ not fewer
				  than 250 full-time employees at the qualified business facility; and
iii. Demonstrate to the Authority that the
				  State's financial support of the proposed capital investment will yield a net
				  positive economic benefit, equaling at least 110 percent of the approved tax
				  allocation amount, to both the State and the eligible municipality for the
				  period equal to 75 percent of the useful life of the investment, not to exceed
				  20 years.
New Jersey Administrative Code › Title 19 - OTHER AGENCIES › NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY › Chapter 31H - URBAN TRANSIT HUB TAX CREDIT PROGRAM › Subchapter 1 - URBAN TRANSIT HUB TAX CREDIT PROGRAM › Section 19:31H-1.4 - Restrictions

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A business shall not be allowed urban
				  transit hub tax credits if:
1. The business
				  participates in a Business Employment Incentive Program agreement pursuant to
				  P.L.
				  1996, c. 26
				  (N.J.S.A.
				  34:1B-124 et seq.) relating to the same
				  capital investment, employees, and site that qualify the business for urban
				  transit hub tax credits; or
2. The
				  business receives assistance from the Business Retention and Relocation
				  Assistance Grant Program pursuant to
				  P.L.
				  1996, c. 25
				  (N.J.S.A.
				  34:1B-112 et seq.).