New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 120 - URBAN ENTERPRISE ZONE AUTHORITY
Subchapter 3 - URBAN ENTERPRISE ZONE BOUNDARY AMENDMENTS
Section 5:120-3.5 - Procedure for evaluation of a zone boundary revision application

Universal Citation: NJ Admin Code 5:120-3.5

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

(a) The Administrator shall evaluate each zone boundary revision application considering the following factors:

1. The likelihood that the areas to be included within the revised boundary will attract significant new business formation within the UEZ;

2. The likelihood that the zone boundary revision will alleviate general problems of economic distress within the existing zone as well as the area proposed to be included in the zone boundary revision application;

3. The likelihood that the zone boundary revision will help alleviate problems of high unemployment in the municipality and the UEZ;

4. The likelihood that the zone boundary revision will result in investment of new capital in the UEZ;

5. Whether the zone boundary revision will help alleviate blighted conditions in the UEZ;

6. Whether the zone boundary revision will aid in modernizing or reoccupation of industrial or commercial structures within the UEZ; and

7. The likelihood that the zone boundary revision will strengthen and broaden the municipal tax base.

(b) After the Administrator's evaluation is complete, the Administrator shall forward the zone boundary revision application and the results of the Administrator's evaluation to the UEZA for review, modification, denial, and/or approval.

(c) Notwithstanding the provisions of this subchapter, the Authority may, in its discretion, consider a request for zone boundary revision if it deems the special conditions of the application to be of exceptional merit.

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