N.J. Admin. Code § 2:76-8.6

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

Section 2:76-8.6 - Committee notification

(a) An application that receives a "priority" ranking pursuant to 2:76-8.5(b) shall proceed as follows:

1. The Committee shall consider if it has expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year and available funds.

2. If a determination pursuant to (a)1 above is to proceed with the application, the landowner shall be notified in writing of its application status and requested to enter into a 120-day commitment letter with the Committee.

3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to 2:76-8.7.

(b) An application that receives an "alternate" ranking pursuant to 2:76-8.5(b) shall proceed as follows:

1. The landowner shall be notified in writing of its application status and informed that no immediate action shall be taken until such time that the Committee determines the following:

i. There are no "priority" ranked applications received at least 120-days prior to the end of the fiscal year that have not already been accepted for processing;

ii. The Committee has not expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year; and

iii. Consideration of geographic distribution of funds authorized pursuant to N.J.S.A. 13:8C-38b.

2. The Committee may authorize the execution of the 120-day commitment letter, provided that the conditions in (b)1 above have been satisfied.

3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to N.J.A.C. 2:76-8.7.

(c) An application that receives an "other" ranking pursuant to 2:76-8.5(b) shall proceed as follows:

1. The landowner shall be notified in writing of its application status and informed that the Committee will not take action until such time as it determines the following:

i. There are no "priority" or "alternate" ranked applications received at least 120-days prior to the end of the fiscal year that have not already been accepted for processing;

ii. The Committee has not expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year; and

iii. The acquisition will promote the geographic distribution of funds pursuant to N.J.S.A. 13:8C-38b.

2. The Committee may proceed to authorize the execution of the 120-day commitment letter, provided that the conditions in (c)1 above have been satisfied.

3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to 2:76-8.7.

N.J. Admin. Code § 2:76-8.6

New Rule, R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
Former N.J.A.C. 2:76-8.6, Appraisals, recodified to N.J.A.C. 2:76-8.7.