N.J. Admin. Code § 2:76-12.6

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

Section 2:76-12.6 - Allowable project costs

(a) The following costs are allowable, provided the costs are incurred in conformance with all applicable laws:

1. Costs which the nonprofit incurs to acquire farmland in fee simple title or to acquire a development easement based on the Committee's approved grant;

2. Costs which the nonprofit incurs for any appraisal obtained in accordance with N.J.A.C. 2:76-13.5;

3. Costs which the nonprofit incurs for surveys necessary for the acquisition of a development easement or the acquisition of fee simple title to farmland; and

4. Costs which the nonprofit incurs for obtaining a title search and title insurance.

(b) The following costs are not allowable:

1. Administrative, legal and operating costs related to the acquisition;

2. Salaries and/or wages of employees of the nonprofit;

3. Real property taxes; and

4. Costs associated with an application for Committee funding that is not approved under N.J.A.C. 2:76-13.4.

N.J. Admin. Code § 2:76-12.6