N.J. Admin. Code § 15:21-5.6

Current through Register Vol. 56, No. 24, December 18, 2024

Section 15:21-5.6 - Amount of grant and method of allocation

(a) Generally, the minimum State share of eligible project costs of any project eligible for a grant shall be no less than 25 percent.

(b) Should funds be insufficient to allow all projects eligible for a grant to receive at least 25 percent of eligible project costs, funds shall be distributed according to priority ranking (see N.J.A.C. 15:21-5.5 until the funds are depleted).

(c) Should funds be sufficient to allow all approved projects to receive more than 25 percent of eligible project costs, the 25 percent grants shall be considered as base grants and remaining funds shall be distributed to approved applicants on the basis of the ratio of each project's square footage to the total square footage of all approved projects. The maximum grant will not exceed 50 percent of eligible project costs or $ 1,000,000, whichever is less.

(d) Final grants shall be based on actual contract costs. When original estimated costs exceed contract costs on which basis the grant award was made, a grant may be reduced proportionately.

N.J. Admin. Code § 15:21-5.6

As amended, R.1983 d.198, eff. 6/6/1983.
See: 15 New Jersey Register 196(a), 15 New Jersey Register 890(c).
In (c), maximum grant increased from 40 to 50 percent and $ 300,000 increased to $ 500,000.
Amended by R.1990 d.179, effective 3/19/1990.
See: 21 New Jersey Register 3822(a), 22 New Jersey Register 921(c).
Recodified from 6:68-5.7 and amended by R.1995 d.290, effective 6/5/1995.
See: 27 New Jersey Register 620(a), 27 New Jersey Register 2202(a).
Amended by R.2000 d.145, effective 4/3/2000.
See: 32 New Jersey Register 174(a), 32 New Jersey Register 1244(b).
In (c), substituted a reference to $ 1,000,000 for a reference to $ 500,000 in the last sentence.