N.J. Admin. Code § 16:53C-4.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 16:53C-4.2 - Amount and form of financial assistance

(a) Financial assistance may be provided to projects as follows:

1. For Class I railroads, financial assistance may be provided at 50 percent of the total eligible cost with the remaining 50 percent to be paid by the sponsor;

2. For Class II railroads, financial assistance may be provided at 70 percent of the total eligible cost with the remaining 30 percent to be paid by the sponsor; and

3. For Class III railroads, financial assistance may be provided at 90 percent of the total eligible cost with the remaining 10 percent to be paid by the sponsor.

(b) Financial assistance shall be paid on a reimbursement basis to the sponsor. Requests for payment shall be made on a State invoice form with supporting documentation deemed sufficient by the Department. The invoice is available on the Department's website at: www.state.nj.us/transportation/business/vendorhelp/. The Commissioner shall determine all financial terms and conditions of the grant, which shall be set forth in a project agreement.

(c) Eligible costs shall be limited to the cost of design, construction, including construction supervision, inspection, and material testing. The cost of right-of-way acquisition incidental to the project shall be borne totally by the sponsor.

N.J. Admin. Code § 16:53C-4.2

Amended by 48 N.J.R. 1681(a), effective 8/15/2016