New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 49 - PUBLIC-PRIVATE PARTNERSHIPS RULES
Subchapter 9 - STATE OR COUNTY COLLEGE OR UNIVERSITY PROCEDURES AND REQUIREMENTS
Section 17:49-9.1 - Minimum county college, State college, or State university standards for operation of a project

Universal Citation: NJ Admin Code 17:49-9.1

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Contingent upon approval of its governing board, a county college, State college, or State university may enter into a public-private partnership agreement with a private entity to construct, reconstruct, repair, alter, improve, extend, operate, or manage an on-campus or off-campus building, structure, or facility, if:

1. The project is financed in whole or in part by the private entity and the State or county college or university retains full ownership of the land upon which the project is completed.

(b) In order to pursue a public-private partnership project, a county college, State college, or State university shall, at a minimum, possess an investment grade bond rating from at least one nationally recognized statistical rating agency.

(c) A county college, State college, or State university shall complete the following steps to ensure a project meets the policy, risk allocation/transfer, funding, social equity, market readiness, legal, innovation, life cycle, and accelerated delivery requirements requisite within a public-private partnership agreement:

1. Step 1: Complete a self-assessment utilizing the initial screening criteria outlined in Treasury's Initial Screening Tool available at www.treasury.nj.gov/ p3screening1. A county college, State college, or State university shall submit this self-assessment screening with its application to the Office of Public Finance;

2. Step 2: Assuming successful completion of a self-assessment, report to the Office of Public Finance, through an email to p3@treas.nj.gov, that it is considering pursuing a public-private partnership. The county college, State college, or State university shall conduct a project analysis, in conjunction with legal, financial, and other experts possessing the requisite minimum criteria outlined at N.J.A.C. 17:49-3.2, to determine the financial and technical viability of a potential project, prior to submission to the Office of Public Finance. A county college, State college, or State university shall submit all supporting documents with its application to the Office of Public Finance, including information on the credentials of the experts retained for purposes of conducting the project analysis, as required by N.J.A.C. 17:49-9.5.

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