N.J. Admin. Code § 16:53C-5.6

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

Section 16:53C-5.6 - Project agreement

(a) After an applicant has been notified of selection and has accepted financial assistance for a project, a project agreement shall be executed.

(b) The project agreement will include, but not be limited to, the following terms and conditions:

1. The amount of the State and the sponsor's respective shares of the project costs;

2. A detailed scope of the work and detailed cost estimate;

3. Assurances that the sponsor will provide or cause to be provided common carrier service for a period of no less than five years utilizing the rail facilities that are the subject of assistance. In the event that the railroad receives approval for abandonment during that period, the State may seek reimbursement for a proportionate share of the amount of the funds expended;

4. Assurances that the sponsor will provide or cause to be provided continued maintenance on the improved facility for at least five years from the date the State deems the project complete;

5. That the State reserves the right to inspect the project, including materials and workmanship. The sponsor shall assist with all necessary arrangements for such inspection;

6. Proof that the sponsor has notified, in writing, the governing body of each affected municipality;

7. That the sponsor shall conform to all applicable State and Federal environmental laws and regulations;

8. That the sponsor shall provide professional engineering plans at the discretion of the Department;

9. That the sponsor shall agree to retain and make available to the Commissioner, for the purpose of audit and examination, any financial records, supporting documents, papers, statistical records, contracts, and all other records pertinent to, arising out of, or connected with the implementation of the project. The records shall be available for a period of three years after project closeout, or for any longer period necessary to resolve audit findings, following the payment by the Commissioner of the final invoice under the agreement; and

10. A certification signed by the applicant, or the owner of the property if other than the applicant, agreeing that the State may record a lien against the property in an amount equivalent to the full value of the Rail Freight Assistance Program funding as a guarantee that the applicant, or owner of the property if other than the applicant, will cause or use its best efforts to cause common rail freight service to be provided using the rail freight facilities or right-of-way that is the subject of assistance for a period of no less than five years from the date the State provides written notification of acceptance of the funded project is complete.

N.J. Admin. Code § 16:53C-5.6

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