N.J. Admin. Code § 5:47-8.1

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

Section 5:47-8.1 - Establishment of clearinghouse

(a) The Department shall establish a clearinghouse for business entities seeking to provide assistance to qualified projects, and qualified projects seeking assistance from business entities. The clearinghouse shall include the following information, which shall be available at the Department's offices or upon written request to the Department, and which shall be posted on the Department of Community Affairs website:

1. The name of each business entity receiving a certificate pursuant to 5:47-6.4 which does not specify a project or nonprofit organization to which it proposes to provide assistance;

2. The amount deposited by each business entity in the Neighborhood Revitalization Non-lapsing Trust Fund for the current year, and the amount that it proposes to provide in subsequent years, if any;

3. The name of each nonprofit organization that has received approval for a plan from the Department pursuant to N.J.A.C. 5:47-3 and the location of the neighborhood covered by the plan;

4. The name of each nonprofit organization that has received approval for a project from the Department pursuant to N.J.A.C. 5:47-4, the location of the neighborhood for which the project is proposed, the amount of assistance sought by the nonprofit organization to carry out the project, and the amount of any assistance, if less than the full amount sought, already provided or committed; and

5. Contact information for business entities and nonprofit organizations listed in the clearinghouse.

(b) Business entities and nonprofit organizations may use the clearinghouse to contact one another. In the event that a business entity listed in the clearinghouse decides to allocate its assistance to a project listed in the clearinghouse, it shall notify the Department, which shall amend its certificate to specify the project for which the assistance is being provided.

N.J. Admin. Code § 5:47-8.1