N.J. Admin. Code § 16:47-10.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 16:47-10.6 - Financial contributions

(a) When a permit requires a fair share mitigation obligation that the Department has determined can be satisfied by a non-refundable financial contribution, as described in N.J.A.C. 16:47 Appendix F-2.2, the Department will deposit these funds in a designated account.

(b) The Department will enter into a fair share agreement when the fair share mitigation obligation is being satisfied only through a financial contribution and there is no other requirement for a developer agreement. Otherwise the fair share mitigation obligation will be included in a developer agreement.

(c) A financial contribution may be expended on any of the activities described in N.J.A.C. 16:47 Appendix F-2.3d, fair share obligation determination, to implement operational improvements for any identified locations requiring mitigation. The Department will give priority to mitigating the identified locations, then to other locations that improve the State highway, first within the municipality, then within the county, and then within the region within which the lot or site is located.

(d) The Department may allow a fair share financial contribution and accrued interest, or any portion thereof, to be used by any Federal, State, regional, or local entity, or to be used by any person or private entity as the Department deems appropriate for the implementation of the improvements referenced in (c) above.

N.J. Admin. Code § 16:47-10.6

Adopted by 50 N.J.R. 1534(b), effective 7/16/2018