N.J. Admin. Code § 9A:12-1.3

Current through Register Vol. 56, No. 19, October 7, 2024

Section 9A:12-1.3 - Project eligibility

(a) Moneys from the capital improvement fund shall be awarded in the form of grants to New Jersey's four-year public and private institutions of higher education for the cost, or a portion of the cost, of the renewal, renovation, improvement, expansion, construction, and reconstruction of facilities and technology infrastructure.

(b) Each institution shall use the grants for existing renewal and renovations needs at instructional, laboratory, communication, research, and administrative facilities.

(c) An institution may use up to 20 percent of a grant within student support facilities for renewal and renovation or improvement, expansion, construction, and reconstruction.

(d) Grants funds may be used for the improvement, expansion, construction, and reconstruction of instructional, laboratory, communication, and research facilities, or technology infrastructure if:

1. The institution establishes that all renewal and renovation is completed at instructional, laboratory, communication, research, and administrative facilities or is accounted for through other funding sources;

2. The institution proposes the project for the purpose of maximizing Federal grant recoveries; or

3. The institution proposes to replace a building when the projected renewal and renovation costs exceed the projected cost of replacement.

(e) For a project to be eligible to receive a grant, the institution must:

1. Have an up-to-date long-range facilities plan approved by the institution's governing board that includes provisions to address deferred maintenance and other capital renewal requirements and pledges to use the capital improvement fund grant to advance that plan;

2. Commit, by resolution of its governing board, to maintaining the capital improvement project funded by the grant;

3. Certify that it will use the funds for renewal or renovation of instructional, laboratory, communication, research, and administrative facilities, or for the alternatives provided in (d) above;

4. Commit to paying one-third (1/3) of debt service on the bonds issued to fund the capital improvement project if a public institution and one-half (1/2) of debt service if a private institution.

N.J. Admin. Code § 9A:12-1.3

Amended by 54 N.J.R. 444(a), effective 3/7/2022