N.J. Admin. Code § 19:31-10.7

Current through Register Vol. 56, No. 9, May 6, 2024

Section 19:31-10.7 - Application procedures

(a) A business shall apply to the Authority for a grant on a form prescribed by the Authority which requires the following:

1. The name and address of the business;

2. A history and description of the applicant's business;

3. A detailed description of the proposed project, including the location and type of activity which the business will be engaged in at the project site;

4. A detailed breakdown of the total project cost indicating sources and uses of any financial assistance for the project;

5. A complete schedule of all officers, directors and stockholders owning 15 percent or more of the stock;

6. Annual financial statements for the two most recent years, including the balance sheets, operating statements and reconciliations of the source and application of funds;

7. A current interim statement, if the most recent annual financial statement is more than six months old;

8. The estimate of eligible positions to be created during the base years and thereafter;

9. An estimate of total withholdings to be generated from these new positions;

10. A written certification by the chief executive officer, or equivalent officer for North American operations, stating:

i. The amount, date received and provider of any grant received under State law, including the Business Retention and Relocation Assistance Grant Program; and

ii. That the business applying for the program is not in default with any other program administered by the State of New Jersey, and that he or she has reviewed the application information submitted and that the representations contained therein are accurate;

11. If the business is awaiting a grant award notification for any grant offered under State law, the business shall submit a certification identifying the grant provider and the anticipated amount and date of award;

12. Whether the business is located in Planning Area 1 or 2 of the State's Development and Redevelopment Plan;

13. Whether the business is located in a brownfield site, defined as the first occupants of the site after issuance of a new no-further action letter;

14. Whether the business is located in a center designated by the State Planning Commission, or in a municipality with an endorsed plan;

15. Whether 10 percent of the employees of the business receive a "qualified transportation fringe" in a minimum amount of $ 30.00 pursuant to Title 26 of the United States Internal Revenue Code Section 132(f)(1)(a) for transportation in a commuter highway vehicle if such transportation is in connection with travel between the employee's residence and place of employment or Section 132(f)(1)(b) for any transit pass, as such commuter highway vehicle and transit pass are defined in Section 132(f) of the Internal Revenue Code;

16. Whether the business is located in an area designated by the locality as an "area in need of redevelopment";

17. Whether the project is linked with housing production or renovation (market or affordable) utilizing at least 25 percent of the total buildable area of the site;

18. Whether the business is located within five miles of and is working cooperatively with a public or nonprofit university on research and development;

19. Whether the business provides employee health benefits under a group health plan as defined under section 14 of P.L. 1997, c. 146 (17B:27-54 ), a health benefits plan as defined under section 1 of P.L. 1992, c.162 (17B:27A-17 ), or a policy or contract of health insurance covering more than one person issued pursuant to Article 2 of Title 17B of the New Jersey Statutes; and

20. For publicly traded businesses, a copy of the businesses' form 10K; and

21. Any additional information deemed necessary to evaluate a specific application including, but not limited to, the certified annual statement required by 19:31-10.4(a), and the type and form of records required to be submitted to the Director pursuant to 18:35-7.1 through 7.8, as amended from time to time by the Director pursuant to 34:1B-137.

(b) A landlord shall file the information set forth in (a) above, in addition to the following:

1. A copy of the assignment by each tenant to forego any claim of right it may have to a grant; and

2. A copy of the agreement between the landlord and tenants which establishes the tenants agreed to cooperation to annually submit to the Authority its:

i. Number of new employees in eligible positions;

ii. Total employees at commencement of the Agreement between the Authority and landlord;

iii. Payroll records; and

iv. Any withholdings during the grant year.

(c) A business shall submit on a form prescribed by the Authority a detailed payroll report indicating all employment positions of the business and the employees who filled those positions located in New Jersey that ceased to exist or to be located in New Jersey within three months of the date of the application.

(d) If the applicant meets all of the program criteria set forth in the rules, the grant shall be recommended for consideration and official actions by the members of the Authority at a public meeting. The applicant has no right to have its application presented to the members of the Authority for consideration.

N.J. Admin. Code § 19:31-10.7

Amended by R.1997 d.270, effective 7/7/1997.
See: 29 N.J.R. 1485(b), 29 N.J.R. 2844(b).
In (a)5, deleted ", including resumes and signed, dated personal financial statements" following "more of the stock".
Amended by R.2004 d.94, effective 3/1/2004.
See: 35 N.J.R. 5047(a), 35 N.J.R. 5369(a), 36 N.J.R. 1198(b).
In (a), inserted new 12 through 19 and recodified existing 12 as 20; rewrote (b); inserted new (c); recodified and amended existing (c) as (d).
Amended by R.2005 d.97, effective 3/21/2005.
See: 36 N.J.R. 5663(a), 37 N.J.R. 904(b).
In (a), added a new 20 and recodified existing 20 as 21.
Amended by R.2008 d.18, effective 1/7/2008.
See: 38 N.J.R. 5341(a), 40 N.J.R. 195(b).
Rewrote (a)15 and (a)21; and in (a)20, substituted "; and" for a period at the end.
Amended by R.2012 d.118, effective 6/18/2012.
See: 44 N.J.R. 434(a), 44 N.J.R. 1784(c).
Rewrote (a)10.