N.J. Admin. Code § 7:24A-2.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 7:24A-2.3 - Allowable project costs

(a) Project costs shall be allowed to the extent permitted under this chapter and the loan award agreement. Allowable project costs shall be those costs set forth below:

1. For a dam restoration project:

i. All items deemed by the Department to be necessary or useful and convenient in connection with a dam restoration project;

ii. Execution of any agreements and franchises deemed by the Commissioner to be useful and convenient in connection with a dam restoration project;

iii. Procurement or provision of engineering, inspection, relocation, legal, financial, planning, geological, hydrological and other professional services, estimates and advice; and

iv. Organizational, administrative and other work and services, including salaries, equipment and materials necessary to comply with the applicable provisions of this chapter.

2. For an inland waters project:

i. All items deemed by the Department to be necessary or useful and convenient in connection with an inland waters project;

ii. Execution of any agreements and franchises deemed by the Commissioner to be useful and convenient in connection with an inland waters project;

iii. Procurement or provision of engineering, inspection, relocation, legal, financial, planning, geological, hydrological and other professional services, estimates and advice; and

iv. Organizational, administrative and other work and services, including salaries, equipment and materials necessary to comply with the applicable provisions of this chapter.

3. The project costs set forth below shall not be allowable:

i. Project design and development costs incurred in preparing necessary documentation for the application phase of this loan program;

ii. Any costs associated with a project for which construction commenced prior to the filing of a loan application with the Department;

iii. Any items deemed by the Department to be unnecessary or not useful and convenient for the project;

iv. Any costs funded by any Federal or other State grant or loan to the applicant; and

v. Any costs not listed in (a)1 or (a)2 above.

N.J. Admin. Code § 7:24A-2.3