N.J. Admin. Code § 19:31-1.5

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:31-1.5 - Application procedures

(a) A prospective applicant should consult with the Authority to determine if the project is eligible.

(b) To apply, a completed Application for Financial Assistance (Application) concerning the project shall be submitted to the Authority for review, together with the Application fee.

(c) The Application includes requests for information about:

1. The applicant's business, including financial statements and projections;

2. The project to be undertaken;

3. The officers, directors, partners, owners and stockholders of the applicant;

4. Litigation involving the applicant;

5. Other users of the project, if applicable;

6. Municipal approvals, if applicable;

7. Contractors, subcontractors, architects, engineers, and planners who will work on the project, if known;

8. Equipment to be purchased as part of the project; and

9. The relocation of any part of the applicant's or user's business, if applicable.

(d) Applications are logged in and assigned a number and project officer for review and processing.

(e) Applications are assigned to a bond counsel firm from the Authority's list of designated bond counsel to review the project for eligibility under Federal and State law (see N.J.A.C. 19:31-1.6). At the time of application, applicants may request assignment of one of the designated bond counsel firms, which request may be approved by the Authority at its discretion.

(f) Applications are processed through several levels of staff review, and may then be recommended for consideration and official action of the Members of the Authority (Members) at a public meeting. The applicant has no right to have its Application presented to the Members.

N.J. Admin. Code § 19:31-1.5