N.J. Admin. Code § 5:101-3.13

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

Section 5:101-3.13 - Reallocation of lapsed grant funds

(a) At the discretion of the Trust, funds from lapsed or terminated projects may be:

1. Reallocated to the Fund for distribution under a future round of funding; or

2. Reallocated to unforeseen construction expenses or other historic preservation grant-aided projects. Reallocated funds are limited to those preservation costs outlined in the grant agreement. Reallocated funds shall not exceed 20 percent of the historic preservation grant. The process for the reallocation of said funds shall be determined by the Trust.

N.J. Admin. Code § 5:101-3.13

Adopted by 55 N.J.R. 2474(a), effective 12/18/2023