New Jersey Administrative Code
Title 16 - TRANSPORTATION
Chapter 56 - AIRPORT GRANT AND LOAN PROGRAM
Subchapter 5 - AGREEMENTS
Section 16:56-5.1 - Agreement
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Upon the review and approval of a written acceptance, the Office will prepare an agreement and transmit the agreement to the grant or loan recipient. The agreement may contain such terms and conditions as deemed necessary to protect the public interest.
(b) The recipient shall sign the agreement document, have it witnessed, and then return it to the Office within 45 days for full execution, along with any or all of the following, as required by the Office:
(c) The Department shall issue a written Notice to Proceed to the grant or loan recipient once the grant or loan agreement is executed, the recipient's Critical Path Method project delivery schedule is received and the project's PS&E package is approved by the Department.
(d) Reimbursable costs can be incurred only on or after the date cited in the written Notice to Proceed issued by the Department to the grant or loan recipient.
(e) A grant or loan recipient shall be responsible for the delivery of the project pursuant to the terms of the agreement within the approved budget and on schedule.
(f) If project or program costs exceed the amount of the State's share of a grant or loan, the grant or loan recipient will be responsible for any additional costs, unless a modification to the agreement is approved by the Department, thereby increasing the amount of the grant or loan. Any costs incurred by the recipient that exceed the amount of the State's share of a grant or loan prior to modification of the agreement shall not be eligible for reimbursement.