N.J. Admin. Code § 5:100-2.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:100-2.2 - Eligible properties: construction 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 a contract for ownership of said property, and must obtain the written consent of the property owner to submit an application, with the understanding that ownership will be a condition of the grant, if awarded. Ownership of the property by the applicant must occur within 18 months of the date project funds are appropriated or approved by the Legislature and signed into law if part of an appropriation bill; or

3. If the property is not owned in fee simple by the applicant, the applicant must obtain the written consent of the property owner to submit an application with the understanding that a valid lease will be a condition of the grant, if awarded. 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 must be 15 years or more as of the date project funds are appropriated or approved by the Legislature and signed into law if part of an appropriation bill;

iii. No form of agreement between the applicant and the owner other than a lease is acceptable; and

iv. All leases will be referred for legal review and approval before funds can be released for a historic preservation project awarded a grant; and

4. The property is:

i. Listed individually in the National or State 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 State 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 State Register of Historic Places as set forth in N.J.A.C. 7:4. Before any grant money is disbursed to a recipient receiving more than $ 50,000, the property must meet the requirements of (a)4i or ii above.

(b) The Trust shall require as a condition of a construction grant awarded to a qualifying nonprofit organization that the historic property for which the construction 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 without the consent of the Trust.

N.J. Admin. Code § 5:100-2.2