N.J. Admin. Code § 7:36-12.3

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

Section 7:36-12.3 - At-risk authorization to proceed with development

(a) After submission of an application for development funding, the local government unit may request approval from Green Acres to proceed with a development project at its own risk.

(b) Green Acres shall issue an at-risk authorization when the proposed development complies with the eligibility requirements under 7:36-10.2, and for good cause shown.

(c) If the Garden State Preservation Trust approves a project for which Green Acres issued an at-risk authorization, the time of receipt of Green Acres funding shall begin on the date of the at-risk letter.

(d) The Garden State Preservation Trust is not obligated to award funding for any development project for which Green Acres issues an at-risk authorization under (b) above.

(e) A local government unit is not obligated to develop any project for which it receives an at-risk authorization under (b) above.

(f) The development of a project site completed under an at-risk authorization must comply with the requirements of this chapter to remain eligible for Green Acres reimbursement.

N.J. Admin. Code § 7:36-12.3