N.J. Admin. Code § 5:80-33.14
Current through Register Vol. 56, No. 11, June 3, 2024
Section 5:80-33.14 - Scoring and ranking(a) Due to the limited amount of credits and the high volume of applications to NJHMFA, only a fraction of the projects that apply typically receive credits. In addition to meeting the eligibility criteria described at N.J.A.C. 5:80-33.12, applications that fail to satisfy a minimum of 65 percent of the maximum score pursuant to the ranking criteria established at N.J.A.C. 5:80-33.15, 33.16, and 33.17 shall be declared ineligible to obtain a reservation of tax credits. NJHMFA will rank projects according to the score sheet submitted in the project's application. Should an applicant fail to include a completed self-score sheet, the application shall be ranked utilizing a preliminary score as determined by NJHMFA. NJHMFA shall perform a cursory review of the application and shall assume the maximum score for each of the criteria at N.J.A.C. 5:80-33.13, 33.15, 33.16, 33.17, and this section provided the requisite documentation has been submitted. Based on this ranking, NJHMFA will then examine the applications of only those projects that rank sufficiently high to receive credits. Once it is determined that an application meets all eligibility requirements, it is admitted into the cycle and underwritten.(b) Applications shall receive points based on the point system for the particular cycle in which they compete. In the event of a tie score, projects shall be ranked according to the tiebreaker system. Then, reservations shall be awarded to the applications with the highest scores and, in the case of equally high scores, to the applications that successfully meet the tiebreaker criteria, with reservations first going to projects in the set-asides.(c) All units in the project must qualify for a point category in order for the application to receive the points, unless expressly stated otherwise in the point categories described at N.J.A.C. 5:80-33.15, 33.16, and 33.17.(d) Applicants who are successful in receiving tax credits are strongly advised to closely oversee during construction the implementation of all categories for which the application received points. Implementation shall be verified through certifications and on-site inspection by NJHMFA (or its authorized designee).N.J. Admin. Code § 5:80-33.14
Recodified from N.J.A.C. 5:80-33.13 and amended by R.1998 d.279, effective 6/1/1998.
See: 30 N.J.R. 1132(a), 30 N.J.R. 1978(a).
Added a new (c). Former N.J.A.C. 5:80-33.16, Point system for the Special Needs Cycle, was recodified to N.J.A.C. 5:80-33.21.
Recodified from N.J.A.C. 5:80-33.16 and amended by R.1999 d.120, effective 4/5/1999.
See: 31 N.J.R. 122(a), 31 N.J.R. 860(a).
Rewrote the section. Former N.J.A.C. 5:80-33.15, Application to the Reserve, recodified to N.J.A.C. 5:80-33.14.
Amended by R.2000 d.132, effective 3/20/2000.
See: 32 N.J.R. 191(a), 32 N.J.R. 1065(a).
Rewrote (c)1.
Amended by R.2001 d.170, effective 5/21/2001.
See: 33 N.J.R. 932(a), 33 N.J.R. 1573(b).
Rewrote (c).
Amended by R.2002 d.233, effective 7/15/2002.
See: 34 N.J.R. 1574(a), 34 N.J.R. 2417(a).
In (c), amended the N.J.A.C. reference; in (d), substituted "(or its authorized designee)" for "staff" following "NJHMFA".
Recodified from N.J.A.C. 5:80-33.15 and amended by R.2003 d.300, effective 7/21/2003.
See: 35 N.J.R. 1616(a), 35 N.J.R. 3298(b).
Rewrote (a); in (c), amended N.J.A.C. reference. Former N.J.A.C. 5:80-33.14, Application for additional credits, recodified to N.J.A.C. 5:80-33.13.
Amended by R.2006 d.112, effective 3/20/2006.
See: 37 N.J.R. 3879(a), 38 N.J.R. 1432(a).
In (a), deleted ", with the exception of the highest-ranking and otherwise eligible application in the preservation set-aside under N.J.A.C. 5:80-33.7(a)2".
Amended by R.2007 d.168, effective 5/21/2007.
See: 39 N.J.R. 281(a), 39 N.J.R. 2011(a).
In (a), inserted the fourth and fifth sentences; and in (d), deleted the last sentence.Amended by 56 N.J.R. 343(b), effective 3/4/2024