New Jersey Administrative Code
Title 16 - TRANSPORTATION
Chapter 89 - FERRY CAPITAL IMPROVEMENT PROGRAM
Subchapter 3 - FERRY CAPITAL IMPROVEMENT PROGRAM FUNDING
Section 16:89-3.1 - Source of funds
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Funding for the FCIP program will be provided from the NJ TRANSIT capital budget.
(b) NJ TRANSIT will allocate FCIP participants at least 75 percent of the funding generated as a result of their RVM reported to the NTD and allocated to NJ TRANSIT pursuant to the FTA's 49 U.S.C. §§ 5307 and 5337 programs, or their successors. The remaining balance will be retained by NJ TRANSIT to cover internal administration cost and assist in the support of NJ TRANSIT capital projects that are deemed by NJ TRANSIT to be required for the support of commuter ferry operations.
(c) NJ TRANSIT will allocate FCIP participants at least 75 percent of the funding generated as a result of their FGDRM reported to the NTD and allocated to NJ TRANSIT pursuant to the FTA's 5307 and 5337 programs, or their successors. The remaining balance will be retained by NJ TRANSIT to cover internal administration cost and assist in the support of NJ TRANSIT capital projects that are deemed by NJ TRANSIT to be required for the support of commuter ferry operations.
(d) NJ TRANSIT will establish the annual RVM and FGDRM funding amount consistent with Federal appropriations and national NTD reporting.
(e) FCIP funding will be disbursed for FCIP projects consistent with an agreement as described in N.J.A.C. 16:89-4.1. NJ TRANSIT will maintain a record of the amount allocated to each FCIP participant, amount disbursed or committed, and the program balance.
