N.J. Admin. Code § 3:42-3.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:42-3.3 - Issuance of Pinelands Development Credit Certificates

(a) The Executive Director shall review the application and shall issue a Pinelands Development Credit Certificate, in such form as shall from time to time be specified by the Board, upon determining that the standards of (b) below are met. If the Executive Director determines that the standards are not met, he shall notify the applicant in writing of the reasons which prevent the issuance of a Certificate.

(b) The Certificate shall, at a minimum, specify the following:

1. The owner(s) of the Pinelands Development Credits;

2. The number of Pinelands Development Credits owned;

3. The municipality, block and lot of the property to which the Pinelands Development Credits are allocated;

4. The date on which the Certificate is issued; and

5. The information to be reported to the Executive Director when the Pinelands Development Credits are sold, conveyed, transferred, encumbered or redeemed, 3:42-3.4(c).

(c) The Executive Director shall issue a Certificate only if he finds that:

1. The Pinelands Development Credit allocation set forth in the Pinelands Commission's letter of interpretation has not changed;

2. The property owner has marketable title and is legally empowered to restrict the use of his property in a manner consistent with the Pinelands Comprehensive Management Plan, 7:50-5.4 7;

3. The deed restriction limits the uses of the property to those permitted pursuant to the Pinelands Comprehensive Management Plan, 7:50-5.4 7.

i. Nothing herein shall be construed to require nor preclude the deed restriction from prohibiting or limiting uses which are otherwise permitted in 7:50-5.4 7.

ii. The restriction shall be in favor of a public agency or not for profit incorporated conservation organization and shall be specifically and expressly enforceable by the Pinelands Commission. In no case, however, shall the restrictions be in favor of the Board.

(d) In the event that the Executive Director determines that a question exists as to marketable title or the legal ability of the property owner to impose the necessary restrictions on the use of the property, the applicant may elect to conduct a more extensive search of the title or secure insurance which guarantees that the owner has an interest in the property sufficient to meet the standards set forth in (c) above. If the Executive Director then determines that the title questions are resolved, he shall issue the Certificate.

N.J. Admin. Code § 3:42-3.3