N.J. Admin. Code § 7:22-4.47

Current through Register Vol. 56, No. 21, November 4, 2024

Section 7:22-4.47 - Interim loans

(a) A project sponsor is eligible for an interim loan from the Trust provided all of the following conditions are met:

1. The project is listed on the project priority list developed in accordance with 7:22-4.8(a) for funding in the forthcoming State fiscal year;

2. The project sponsor has submitted a complete application for the project in accordance with 7:22-4.11;

3. The project has been certified for funding by the Trust in accordance with 7:22-4.13;

4. The project is in the fundable range in the forthcoming funding cycle given the project's rank and the anticipated availability of Department and Trust monies for loans; and

5. The project sponsor has not previously received an Interim loan with the Trust for the same project scope.

(b) Interim loans will be awarded on a readiness-to-proceed basis until the funds available for interim loan awards are exhausted.

N.J. Admin. Code § 7:22-4.47

New Rule, R.2002 d.259, effective 8/5/2002.
See: 34 New Jersey Register 1373(a), 34 New Jersey Register 2803(a).
Former N.J.A.C. 7:22-4.47, Severability, recodified to N.J.A.C. 7:22-4.48.