New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 101 - GARDEN STATE HISTORIC PRESERVATION TRUST FUND GRANTS PROGRAM
Subchapter 3 - ALLOCATION OF HISTORIC PRESERVATION GRANT FUNDS
Section 5:101-3.4 - Commencement of project and payment: capital grants

(a) For a capital grant, a grant agreement for a historic preservation project shall be in effect within 18 months of the effective date of the appropriation by law of the funds for the capital grant, or the grant for that historic preservation project shall lapse into the Fund.

(b) As defined in the grant agreement, work on a historic preservation project funded with a capital grant shall commence within two years of the effective date of the appropriation by law for the grant, or the grant for that historic preservation project shall lapse into the Fund.

(c) After funds for a capital grant have been appropriated by the Legislature, the grant agreement has been fully executed, and all eligibility requirements have been met, the grant recipient will be reimbursed for expenditures incurred for historic preservation activities which are eligible pursuant to N.J.A.C. 5:101-2.4; which are within the scope of the historic preservation project described in the grant agreement subject to the Trust's approval of documents submitted pursuant to (d) below. Total reimbursements cannot exceed the amount of the grant.

(d) Reimbursement is to be made pursuant to (c) above and must be substantiated by itemized invoices, canceled checks approved by the Trust, and referenced to completed tasks within the scope of the historic preservation project described in the grant agreement. Invoices must itemize cost of labor and materials and describe the work performed for which reimbursement is requested. Invoices are to be submitted for each reporting period set forth in the grant agreement and shall be accompanied by other documentation defined in the grant agreement.

(e) Up to 10 percent of the total amount of each grant is to be retained by the Trust. The Trust is to deduct as retainage an amount equal to up to 10 percent of each payment approved under (d) above. The retainage is to be kept by the Trust until the historic preservation project has been completed and met financial and project requirements, including submission of required reports.

(f) The Trust may choose to advance 10 percent of grant monies to nonprofit organizations before receipt of expenditure documentation. Until such documentation is received and approved, the Trust shall make no further payments beyond the 10 percent advanced.

(g) For projects where the grantee is a State agency, at its discretion, the Trust may advance 100 percent of the funds.