New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 47 - NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT
Subchapter 3 - NEIGHBORHOOD REVITALIZATION PLAN
Section 5:47-3.6 - Approval of other plans
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A nonprofit organization may, in submitting a proposed neighborhood revitalization plan pursuant to this subchapter, adopt a redevelopment plan adopted pursuant to the Local Redevelopment and Housing Law, P.L. 1992, c.79 (40A:12A-1 et seq.) and currently being implemented; or a State-approved neighborhood empowerment plan adopted pursuant to section 49 of P.L. 1996, c. 62 (55:19-64) , or a neighborhood preservation and revitalization plan previously approved by the Department, as its neighborhood revitalization plan. In so doing, the non-profit organization submitting the plan shall provide documentation that the area covered by the plan meets the criteria for an "eligible neighborhood" as set forth in 5:47-3.2, and shall provide supplementary material as set forth in 5:47-3.4(b) to the extent that any such information is not contained in the plan being submitted.
(b) A nonprofit organization may submit a plan, based on any of the plans set forth in (a) above, which supplements that plan with additional elements; for example, since a redevelopment plan customarily addresses only physical improvements to a neighborhood, the organization may want to supplement it with additional elements such as economic development, education, etc. In such case, the organization submitting the plan shall provide documentation that the process by which the supplemental elements of the plan were developed was consistent with the standards and requirements of 5:47-3.3.