N.J. Admin. Code § 5:101-2.2

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

Section 5:101-2.2 - Eligible properties: capital grants

(a) At the time of the Trust's receipt of the application for a construction grant, the property for which the application is submitted must satisfy (a)4 below and either (a)1, 2, or 3 below:

1. The property must be owned in fee simple by the applicant; or

2. If the property is not owned in fee simple by the applicant, the applicant must have an executed lease with the property owner. An acceptable lease shall abide by the following conditions:

i. The lessor cannot revoke the lease at will;

ii. The unexpired term of the lease is 15 years or more as of the date project funds are appropriated by the Legislature and signed into law;

iii. No form of agreement between the applicant and the owner other than a lease or National Park Service Cooperative Agreement is acceptable; and

iv. All leases will be referred to the Attorney General for review and approval before funds can be released for a historic preservation project awarded a grant; or

3. If the property is not owned in fee simple by the applicant, and the remaining term of the lease is less than 15 years, and the owner is an entity of State, county, or local government, the owner must be a joint signatory to the grant agreement; and

4. The property is:

i. Listed individually in the National or New Jersey Register of Historic Places as set forth in N.J.A.C. 7:4;

ii. Located within a historic district listed in the National or New Jersey Register of Historic Places and identified in the nomination of the district as contributing to its significance; or

iii. Certified by the State Historic Preservation Officer that the property, structure, facility, or site is approved for listing or meets the criteria for listing in the New Jersey Register of Historic Places as set forth in N.J.A.C. 7:4.

(b) If the property is not listed in the National or New Jersey Register of Historic Places at the time of application, the property must be listed within 18 months from the time funding is appropriated or the grant award will lapse. Before any grant money is disbursed to a recipient, the property must meet the requirements at (a)4i or ii above.

(c) The Trust shall require as a condition of a capital grant awarded to a qualifying nonprofit organization that the historic property for which the capital grant is received shall not be sold, leased, or otherwise conveyed to an individual or to an organization that does not have tax exempt or governmental status, during the grant agreement period, without the consent of the Trust.

N.J. Admin. Code § 5:101-2.2

Amended by R.2006 d.144, effective 4/17/2006.
See: 38 N.J.R. 382(a), 38 N.J.R. 1655(a).
Rewrote the section

Amended by 55 N.J.R. 2474(a), effective 12/18/2023