N.J. Admin. Code § 19:31Z-1.12

Current through Register Vol. 56, No. 12, June 17, 2024

Section 19:31Z-1.12 - Certification of completion of remediation; completion of redevelopment project

(a) No later than 12 months following completion of the remediation required for the redevelopment project, the developer shall seek certification from the Department that:

1. The remediation required for the redevelopment project is complete. Where the remediation is subject to the Site Remediation Reform Act, sections 1 through 29 at P.L. 2009, c. 60 (N.J.S.A. 58:10C-1 et seq.), evidence of completion of the remediation will be demonstrated by the issuance of a Response Action Outcome for the site of the redevelopment project by a Licensed Site Remediation Professional. For any portion of the remediation that is not subject to the Site Remediation Reform Act, sections 1 through 29 at P.L. 2009, c. 60 (N.J.S.A. 58:10C-1 et seq.), evidence of completion of the remediation will be demonstrated by a certification from the Licensed Site Remediation Professional and from an appropriate licensed or certified professional;

2. The developer complied with the requirements of section 15 at P.L. 2020, c. 156 (N.J.S.A. 34:1B-283) and N.J.A.C. 19:31Z-1.11(a) regarding progress reports to the Department, and section 14 at P.L. 2020, c. 156 (N.J.S.A. 34:1B-282) and this section, including the requirements of any agreement or other oversight document that the developer may have executed with the Commissioner of the Department of Environmental Protection pursuant to P.L. 2020, c. 156, section 14(N.J.S.A. 34:1B-282); and

3. The remediation costs were actually and reasonably incurred.

(b) When filing an application for certification pursuant to (a) above, the developer shall submit the following information to the Authority and the Department as of the date of completion of the remediation required for the redevelopment project:

1. The total remediation costs incurred by the developer or an affiliate for the redevelopment project, as provided in the redevelopment agreement, and certified by a certified public accountant and a Licensed Site Remediation Professional for costs pursuant to the jurisdiction of the Site Remediation Reform Act, sections 1 through 29 at P.L. 2009, c. 60 (N.J.S.A. 58:10C-1 et seq.), and, as applicable, other appropriate licensed or certified professional(s) for costs that are not pursuant to the jurisdiction of the Site Remediation Reform Act, and the total costs of remediation. The Authority shall qualify certified public accountants and provide to the developer, the list of qualified certified public accountants; provided, however, the developer may select a certified public accountant that is independent to the developer and any affiliate and not on the Authority's list of qualified certified public accountants for purposes of the remediation cost certification if the developer demonstrates an extenuating circumstance prohibiting the developer from retaining a qualified certified public accountant. Such circumstances include, but are not limited to: the unavailability of any of the qualified certified public accountants to timely complete the certification or a lack of independence of the qualified certified public accountants from the developer;

2. Evidence of completion of the remediation, as demonstrated by the issuance of a Response Action Outcome for the site of the redevelopment project by a Licensed Site Remediation Professional where the remediation is subject to the Site Remediation Reform Act, sections 1 through 29 at P.L. 2009, c. 60 (N.J.S.A. 58:10C-1 et seq.), and by a certification from the Licensed Site Remediation Professional and appropriate licensed or certified professional for completion of other remedial activities, if applicable;

3. Information concerning the occupancy rate of the buildings or other work areas located on the property subject to the redevelopment agreement, if applicable;

4. A certification indicating whether or not the developer is aware of any condition, event, or act that would cause the developer not to be in compliance with the approval, the redevelopment agreement, this Act, or this subchapter;

5. A certification by the Licensed Site Remediation Professional of record for the redevelopment project confirming that all remediation work was completed in accordance with the redevelopment agreement; and

6. Such other information as the Department or Authority deems necessary in order to make the certifications and findings pursuant to (a) above.

(c) To demonstrate compliance with the Program, in addition to the submission required pursuant to (b) above, the developer shall submit the following to the Authority, as of the date of completion of the remediation required for the redevelopment project, no later than 12 months following completion of remediation required for the redevelopment project:

1. A certification from a Licensed Site Remediation Professional or licensed professional engineer that the redevelopment project has adhered in all material respects to the plan submitted by the developer describing how the developer or an affiliate would satisfy the minimum environmental and sustainability standards;

2. A tax clearance certificate as described in section 1 at P.L. 2007, c. 101 (N.J.S.A. 54:50-39) for the developer;

3. Documentary evidence that a deed restriction has been recorded requiring construction and building services' prevailing wage pursuant to N.J.A.C. 19:31Z-1.14(b) and (c); and

4. Such other information as the Authority deems necessary in order to determine compliance by the developer with the Program.

(d) Within 90 days of the Department issuing the certificate of completion of remediation, the Authority accepting as satisfactory the documentation required at (c) above, and the Authority determining that other required conditions of the Act, this subchapter, and the redevelopment agreement have been met, the Authority shall notify the developer and the Director. Thereafter, the developer shall receive its tax credit certificates.

(e) A developer shall apply the tax credit awarded against the developer's liability for the tax imposed pursuant to section 5 at P.L. 1945, c. 162 (N.J.S.A. 54:10A-5), sections 2 and 3 at P.L. 1945, c. 132 (N.J.S.A. 54:18A-2 and 54:18A-3), section 1 at P.L. 1950, c. 231 (N.J.S.A. 17:32-15), or N.J.S.A. 17B:23-5 for the privilege period in which the developer provides evidence required in this section to the satisfaction of the Department and the Authority. A developer shall not carry forward any unused credit.

(f) Credits granted to a partnership or a New Jersey S corporation shall be passed through to the corporate partners, corporate members, or corporate owners, respectively, pro-rata, or pursuant to an executed agreement among the partners, members, or owners documenting an alternate distribution method provided to the Director and accompanied by any additional information as the Director may prescribe, consistent with any rule, guidance, or other publication issued by the Division of Taxation.

(g) The Director shall prescribe the order of priority of the application of the credit awarded pursuant to this section and any other credits allowed by law against the tax imposed pursuant to section 5 at P.L. 1945, c. 162 (N.J.S.A. 54:10A-5). The amount of the credit applied pursuant to this section against the tax imposed pursuant to section 5 at P.L. 1945, c. 162 (N.J.S.A. 54:10A-5) for a privilege period, together with any other credits allowed by law, shall not reduce the tax liability to an amount less than the statutory minimum provided in subsection (e) of section 5 at P.L. 1945, c. 162 (N.J.S.A. 54:10A-5).

(h) For a redevelopment project that includes redevelopment after completion of the remediation required for the redevelopment project, a developer shall submit, no later than six months following the completion of the redevelopment project, the following documents to the Authority:

1. Evidence of a temporary certificate of occupancy or other event evidencing completion of the redevelopment project;

2. A certification indicating whether or not the developer is aware of any condition, event, or act that would cause the developer not to be in compliance with the redevelopment agreement, the Act, or this subchapter;

3. A certification from a licensed professional engineer that the redevelopment project undertaken after completion of remediation has adhered in all material respects to the plan submitted by the developer describing how the developer or an affiliate would satisfy the minimum environmental and sustainability standards; and

4. Any information determined by the Authority to be necessary and relevant to its review.

(i) An authorized agent of the developer shall certify that the information provided to the Department and the Authority pursuant to this section is true, correct, and accurate under the penalty of perjury.

N.J. Admin. Code § 19:31Z-1.12

Amended by R.2023 d.065, effective 5/15/2023.
See: 54 N.J.R. 2228(a), 55 N.J.R. 1027(a),.
In (h)2, deleted "or any co-applicant" following the second occurrence of "developer".

Recodified from 19:31-27.12 56 N.J.R. 807(a), effective 5/6/2024