N.J. Admin. Code § 17:49-7.1

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:49-7.1 - Minimum school district standards for operation of a project

(a) A school district, except a charter school, may enter into a public-private partnership agreement with a private entity to assume full financial and administrative responsibility for the development, construction, reconstruction, repair, alternation, improvement, extension, operation, and maintenance of a school facility project consistent with P.L. 2000, c. 72 (N.J.S.A. 18A:7G-3), including any infrastructure or facility to be used by the public, or in support of a public purpose, for the benefit of a school district, provided that:

1. The project is financed in whole by a private entity; and

2. The school district has received approvals by all appropriate governing bodies, including the board of education and, where appropriate, a municipal governing body.

(b) In order to pursue a public-private partnership project, a school district shall, at a minimum, possess an investment grade bond rating from at least one nationally recognized statistical rating agency.

(c) A school district shall demonstrate compliance with the provisions at N.J.S.A. 18A:7G-1et seq., unless the provision has been specifically exempted by N.J.S.A. 18A:18A-60et seq., 18A:18A-16, 18A:18A-16.1, and 18A:18A-17 regarding the preparation and approval of plans and specification for public school buildings, capacity requirements, and facilities requirements for students with disabilities, respectively. A school district shall conduct a public hearing for facility lease in excess of five years as required by N.J.A.C. 6A:26-10.11. A school district shall provide documentation necessary to obtain the approval of the Commissioner of Education for the proposed project prior to filing an application for approval to enter into a public-private partnership with the Office of Public Finance.

(d) Where applicable, a school district, shall include the New Jersey Schools Development Authority to facilitate the transfer of property for the benefit of the school district, contingent upon inclusion of the New Jersey Schools Development Authority's involvement and expertise in the construction and management of the project.

(e) A school district shall complete the following steps to ensure a project meets the policy, risk allocation/transfer, funding, social equity, market readiness, legal, innovation, life cycle, and accelerated delivery requirements requisite within a public-private partnership agreement:

1. Step 1: Complete a self-assessment utilizing the initial screening criteria outlined in Treasury's Initial Screening Tool available at www.treasury.nj.gov/ p3screening1. A school district shall submit this self-assessment screening, along with the formal letter of project approval received from the Commissioner of Education, with their application to the Office of Public Finance; and

2. Step 2: Assuming successful completion of a self-assessment, report to the Office of Public Finance, through an email to p3@treas.nj.gov, that it is considering pursuing a public-private partnership. The school district shall conduct a project analysis, in conjunction with legal, financial, and other experts possessing the requisite minimum criteria outlined at N.J.A.C. 17:49-3.2, to determine the financial and technical viability of a potential project, prior to submission to the Office of Public Finance. A school district shall submit all supporting documents with their application to the Department of the Treasury, Office of Public Finance, including information on the credentials of the experts retained for purposes of conducting the project analysis, as required by N.J.A.C. 17:49-7.5.

N.J. Admin. Code § 17:49-7.1

Adopted by 52 N.J.R. 898(a), effective 4/20/2020