Current through Register Vol. 56, No. 24, December 18, 2024
Section 2:76-8.6 - Committee notification(a) An application that receives a "priority" ranking pursuant to N.J.A.C. 2:76-8.5(b) shall proceed as follows: 1. The Committee shall consider if it has expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year and available funds.2. If a determination pursuant to (a)1 above is to proceed with the application, the landowner shall be notified in writing of its application status and requested to enter into a 120-day commitment letter with the Committee.3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to N.J.A.C. 2:76-8.7.(b) An application that receives an "alternate" ranking pursuant to N.J.A.C. 2:76-8.5(b) shall proceed as follows: 1. The landowner shall be notified in writing of its application status and informed that no immediate action shall be taken until such time that the Committee determines the following: i. There are no "priority" ranked applications received at least 120-days prior to the end of the fiscal year that have not already been accepted for processing;ii. The Committee has not expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year; andiii. Consideration of geographic distribution of funds authorized pursuant to N.J.S.A. 13:8C-38b.2. The Committee may authorize the execution of the 120-day commitment letter, provided that the conditions in (b)1 above have been satisfied.3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to N.J.A.C. 2:76-8.7.(c) An application that receives an "other" ranking pursuant to N.J.A.C. 2:76-8.5(b) shall proceed as follows: 1. The landowner shall be notified in writing of its application status and informed that the Committee will not take action until such time as it determines the following: i. There are no "priority" or "alternate" ranked applications received at least 120-days prior to the end of the fiscal year that have not already been accepted for processing;ii. The Committee has not expended the required minimum funds in that particular county pursuant to N.J.S.A. 13:8C-38m for the respective fiscal year; andiii. The acquisition will promote the geographic distribution of funds pursuant to N.J.S.A. 13:8C-38b.2. The Committee may proceed to authorize the execution of the 120-day commitment letter, provided that the conditions in (c)1 above have been satisfied.3. Upon execution of the 120-day commitment letter, the application shall proceed to the appraisal process described pursuant to N.J.A.C. 2:76-8.7.N.J. Admin. Code § 2:76-8.6
New Rule, R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
Former N.J.A.C. 2:76-8.6, Appraisals, recodified to N.J.A.C. 2:76-8.7.