New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 47 - NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT
Subchapter 5 - CRITERIA FOR QUALIFYING PROJECTS
Section 5:47-5.3 - Leveraging; municipal support
Universal Citation: NJ Admin Code 5:47-5.3
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Department shall evaluate the extent to which the activities set forth in the project are likely to attract public or private investment to the subject project or other projects in the neighborhood, with particular emphasis on the following:
1. The total dollar amount of
funds committed or realistically anticipated from sources other than the
assistance provided under this program, including, but not limited to:
i. Conventional loan capital;
ii. Grants, from public or private
sources;
iii. Subordinated
debt;
iv. Debt at significantly
below-market interest rates, or significantly deferred payment terms;
and
v. Equity
investments;
2. The
extent to which the municipality is providing resources to support the project
or related neighborhood activities, in particular from municipal operating or
capital funds; and
3. The
leveraging ratio of tax credit assistance to other funds for comparable
projects.
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