N.J. Admin. Code § 9A:15-1.2
The following words and terms, when used in this chapter shall have the following meaning unless the context clearly indicates otherwise.
"Act" means the Higher Education Facilities Trust Fund Act, N.J.S.A. 18A:72A-49 through 58.
"Amending Act" means P.L. 2012, c. 42, the law that supplements and amends the Act.
"Authority" means the New Jersey Educational Facilities Authority or any board, body, commission, department, or officer succeeding to the principal functions thereof or to whom the powers conferred upon the Authority shall be given by law.
"Bond" means a bond or note of the Authority issued pursuant to the authority granted by the Act.
"Construction ready" means the extent to which the planning and design work have been completed and construction is able to begin, and the degree to which a project shall be completed expeditiously once begun. An evaluation of whether a project is construction ready shall include the status of the design work, project site readiness, zoning and permitting approvals, as well as the anticipated timeframe during which the project will be completed, and the pacing of related construction.
"Cost-effectiveness" means the degree to which a project produces a positive economic analysis when considering the construction expenses, operating, and maintenance expenses, compared to the project's resultant facilities and/or equipment, the life span of the facilities and/or equipment, facility usage and capacity, user productivity and, where appropriate, such attributes as aesthetics, historic preservation, security, and safety.
"Facilities trust fund" or "trust fund" means the Higher Education Facilities Trust Fund as created by the Act.
"Grant" means a grant of moneys from the facilities trust fund approved by the Secretary for a facilities project.
"Grant agreement" means the grant agreement between the institution and the Authority, which shall set forth the terms and conditions of the grant, amount of the grant, and disbursement schedule.
"Institution" means a public or private institution of higher education that is eligible to receive State aid.
"Project" means a capital construction project to construct, reconstruct, develop, extend, or improve instructional, laboratory, communication, or research facilities.
"Secretary" means the Secretary of Higher Education.
N.J. Admin. Code § 9A:15-1.2