N.J. Admin. Code § 5:100-2.8

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

Section 5:100-2.8 - Matching funds: construction grants

(a) To be eligible for a construction grant for a historic preservation project under the Garden State Historic Preservation Trust Fund, the applying local government unit and nonprofit organization, except as provided in (b) below, shall, as part of the application for a construction grant, demonstrate the ability to match the grant requested by generating $ 1.00 in funds for every $ 1.00 of grant money requested in the application.

(b) Local government units and nonprofit organizations awarded grants up to $ 200,000 are eligible for a 3:2 funding match in which the Trust may provide up to 60 percent of project funding. The grant recipient is responsible for a minimum of 40 percent of project funding.

(c) Funds derived from the sale of debt of the State of New Jersey or special appropriations by the State Legislature or from other grant or loan programs funded by the State shall not be used as the matching share of project costs by nonprofit organizations or local government units.

(d) Funds raised by the applicant up to two years prior to June 30, 1999, for historic preservation projects, and of which the project described in the application is a significant and substantial part, may satisfy the matching funds requirement enumerated in (a) and (b) above if:

1. As part of the application, the applicant submits plans and specifications or other items documenting the expenditure of funds by the applicants and describing the work performed;

2. The Trust determines that the work performed is an integral part of the historic preservation project described in the application; and

3. The work was performed in accordance with the Secretary of the Interior's Standards.

(e) An applicant's matching share consists only of eligible cash raised or eligible expenses incurred by the applicant. If matching funds have not been spent or are not in hand at the time of application, applicants must describe in detail plans for obtaining matching funds.

N.J. Admin. Code § 5:100-2.8