N.J. Admin. Code § 5:101-4.1

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

Section 5:101-4.1 - Easement on the historic property

(a) Term easements are as follows:

1. To assure the continued preservation of historic properties receiving construction grants in excess of $50,000 and owned by nonprofits, and to assure that public benefit continues after the expenditure of the grant moneys, the Trust shall not make grant assistance available until an easement agreement between the Trust and the nonprofit grant recipient and all other parties having an ownership interest in the historic property is recorded. The easement agreement shall include:

1. Provision for the continued preservation of the historic property;

2. Limitations on the right to change the use, alter, demolish or convey the property; and

3. Provisions for public access to the historic property.

2. The period of the easement shall be determined by the aggregate total of grant assistance made available under this chapter, as follows:

1. From $50,001 to $100,000--15 years;

2. From $100,001 to $450,000--20 years; and

3. From $450,001 to $750,000--30 years.

(b) Perpetual easements are as follows:

1. The Trust may accept through donation or acquisition an easement on a historic property to ensure its continued preservation. The easement agreement shall be executed between the Historic Trust, the property owner, and all other parties having an ownership interest, and be duly recorded. The easement agreement shall include:

i. Provisions for the continued preservation of the historic property;

ii. Limitations on the right to change the use, alter, demolish, or convey the property; and

iii. Provisions for public access to the historic property.

2. The period of the easement shall commence upon its recordation and run concurrently with the land.

N.J. Admin. Code § 5:101-4.1

Amended by R.2006 d.144, effective 4/17/2006.
See: 38 N.J.R. 382(a), 38 N.J.R. 1655(a).
Rewrote (b)

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