New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 101 - GARDEN STATE HISTORIC PRESERVATION TRUST FUND GRANTS PROGRAM
Subchapter 2 - APPLICATION PROCEDURE AND ELIGIBILITY FOR HISTORIC PRESERVATION GRANTS
Section 5:101-2.20 - Matching funds: capital grants

Universal Citation: NJ Admin Code 5:101-2.20

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

(a) To be eligible for a capital grant for a historic preservation project, the applying State agency or entity, local government unit, and nonprofit organization, except as provided at (b) below, shall, as part of the application for capital grant, demonstrate the ability to match the grant requested by generating $ 1.00 in funds for every $ 1.00 of grant money requested in the application.

(b) State agencies or entities, local government units and nonprofit organizations awarded grants up to $ 150,000 are eligible for a 3:2 funding match in which the Trust may provide up to 60 percent of project funding. The grant recipient is responsible for a minimum of 40 percent of project funding.

(c) Funds derived from the sale of debt of the State of New Jersey or special appropriations by the State Legislature shall not be used as the matching share of project costs by nonprofit organizations or local government units. Matching grants, contributions, donations, or reimbursements from Federal aid programs or from other public or private sources established for the same or similar purposes as the fund may be used as a match.

(d) Funds expended by the applicant up to two years prior to the time of application for historic preservation projects, and of which the project described in the application is a significant and substantial part, may satisfy the matching funds requirement enumerated in (a) and (b) above if:

1. As part of the application, the applicant submits plans and specifications or other items documenting the expenditure of funds by the applicant and describing the work performed;

2. The Trust determines that the work performed is an integral part of the historic preservation project described in the application;

3. The work was performed in accordance with the Secretary of the Interior's Standards; and

4. Funds spent for eligible project work prior to submission of an application shall not exceed 25 percent of the total project costs requested.

(e) An applicant's matching share shall consist only of eligible cash raised or eligible expenses incurred by the applicant. If matching funds have not been spent or are not in hand at the time of application, applicants must describe in detail plans for obtaining matching funds.

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