New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 102 - HISTORIC PRESERVATION REVOLVING LOAN PROGRAM
Subchapter 4 - ALLOCATION OF HISTORIC PRESERVATION LOAN FUNDS
Section 5:102-4.1 - Allocation of historic preservation loan funds

Universal Citation: NJ Admin Code 5:102-4.1

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

(a) Historic preservation loan funds shall be allocated in accord with an evaluation of applications received by the Trust. The Trust shall evaluate applications based on the following criteria:

1. The balance in the revolving loan fund;

2. The aggregate amount of loans for which requests are pending;

3. Any minimum reserve amount established for the fund; and

4. The extent to which a proposed historic preservation project meets the criteria in 5:102-4.2.

(b) The minimum loan amount to be accepted for review is $ 25,000. The maximum loan amount to be accepted for review will not exceed 15 percent of the available revolving loan fund balance as of the beginning of the fiscal year (July 1) in which the application is submitted.

(c) Loan amounts will be for a maximum of 90 percent of project funding.

(d) The Trust reserves the right to limit the funding to less than the amount requested in an application and to specify the particular aspect(s) of the project it will fund.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.