Section 34:1B-201 - Preparation of final financial plan by developer.

NJ Rev Stat § 34:1B-201 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

34:1B-201 Preparation of final financial plan by developer.

12. Before any tax revenues are made available to the developer for the purposes of undertaking the sports and entertainment facility, the developer shall prepare a final financial plan for that project, which shall be consistent with the project plan prepared by the developer and approved by the treasurer pursuant to section 9 of P.L.2007, c.30 (C.34:1B-198), which shall be submitted to the governing body pursuant to section 13 of P.L.2007, c.30 (C.34:1B-202). That plan shall include:

a. a description of the project or projects to be financed, including the projected cost and construction schedule;

b. a description of any development to be undertaken by any developer in connection with the project, including an estimate of the eligible revenues anticipated from the development;

c. demonstration that the developer has complied with the investment commitment required pursuant to subsection e. of section 4 of P.L.2007, c.30 (C.34:1B-193);

d. a description of the eligible revenues to be pledged to the support of the project, or to the bonds or other obligations to be issued or incurred; and

e. a description of other anticipated projects for the district and the anticipated means of financing those projects.

L.2007, c.30,s.12.

Previous Section

Section 34:1B-200 - Amending ordinance required for changing district boundaries, pledged revenues.

Next Section

Section 34:1B-202 - Submission of final financial plan to municipality, approval by treasurer.