N.J. Admin. Code § 5:47-9.3

Current through Register Vol. 57, No. 1, January 6, 2025
Section 5:47-9.3 - Use of funds
(a) The Department shall set aside interest proceeds to be made available in each fiscal year for grants to be used for any of the following purposes:
1. To qualified entities to provide training and technical assistance to nonprofit organizations eligible to prepare plans and submit projects for tax credit assistance. Areas of training and technical assistance may include, but shall not be limited to, assistance in preparing neighborhood revitalization plans and developing projects based on those plans; developing technical capacity to implement projects and related neighborhood revitalization activities; and building management and financial capacity among nonprofit organizations engaged in neighborhood revitalization activities. Qualified entities shall be public, private or nonprofit entities that have demonstrated through the conduct of successful programs and activities their ability to provide training and technical assistance to nonprofit organizations carrying out community development and neighborhood revitalization activities;
2. To nonprofit organizations to carry out planning activities consistent with N.J.A.C. 5:47-3;
3. Other activities to improve the capacity of nonprofit organizations to plan and carry out neighborhood revitalization activities eligible for tax credit assistance; or
4. Marketing activities, including, but not limited to, presentations, workshops and preparation of materials, designed to inform business and corporate entities about the opportunities available to provide assistance and obtain tax credit benefits.
(b) Under no circumstances shall the award of a grant to a nonprofit organization under this subchapter be interpreted to mean that a nonprofit organization shall receive preference in the ranking of qualified projects pursuant to N.J.A.C. 5:47-5.

N.J. Admin. Code § 5:47-9.3