N.J. Admin. Code § 5:47-5.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:47-5.3 - Leveraging; municipal support

(a) The Department shall evaluate the extent to which the activities set forth in the project are likely to attract public or private investment to the subject project or other projects in the neighborhood, with particular emphasis on the following:

1. The total dollar amount of funds committed or realistically anticipated from sources other than the assistance provided under this program, including, but not limited to:

i. Conventional loan capital;

ii. Grants, from public or private sources;

iii. Subordinated debt;

iv. Debt at significantly below-market interest rates, or significantly deferred payment terms; and

v. Equity investments;

2. The extent to which the municipality is providing resources to support the project or related neighborhood activities, in particular from municipal operating or capital funds; and

3. The leveraging ratio of tax credit assistance to other funds for comparable projects.

N.J. Admin. Code § 5:47-5.3