N.J. Admin. Code § 2:76-20.14

Current through Register Vol. 56, No. 16, August 19, 2024

Section 2:76-20.14 - Preparation and contents of the feasibility plan

(a) The Committee shall coordinate an orientation meeting with the applicant and the technical team at the preserved farm.

(b) If the technical team determines after the orientation meeting that the potential exists for the viability of the farm to be improved, a feasibility plan shall be prepared by the technical team.

(c) The feasibility plan shall include the following:

1. A business plan, which shall be one of the following three types:

i. A business plan as prepared by the Garden State Agricultural Re Engineering Initiative;

ii. A business plan as prepared by a New Jersey Small Business Development Center; or

iii. A business plan as prepared or approved by the technical team; and

2. A detailed description of the recommended project(s), including:

i. The anticipated benefits to the agricultural operation;

ii. A timeline for the installation of the project(s), including an operations and management statement, which shall set forth the names of individuals who will manage the installation of the project as well as its use, if applicable;

iii. A maintenance schedule associated with the project(s), if appropriate;

iv. A spreadsheet of the estimated costs of the project(s), including all sources of anticipated funding for the project;

v. A description of the targeted market as well as any marketing techniques to be employed, if applicable;

vi. A projected revenue and expense analysis, including the anticipated hiring of employees, increase in customer base, increase in farm purchases from local agribusinesses and the increase in value of the agricultural product; and

vii. A farm transfer plan, if deemed appropriate by the technical team.

(b) A feasibility plan shall be prepared by the technical team within three months of the date of the orientation meeting.

1. The lead coordinator shall provide a copy of the feasibility plan to the Committee and the applicant.

N.J. Admin. Code § 2:76-20.14