Section 34:1B-7.5 - Projects; factors for consideration for financial assistance

NJ Rev Stat § 34:1B-7.5 (2019) (N/A)

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34:1B-7.5. Projects; factors for consideration for financial assistance

With respect to projects for which costs are to be financed by the authority pursuant to this act, the authority shall in determining those projects, and in the planning and undertaking of those projects, consider the following in addition to any factors required to be considered pursuant to P.L.1974, c. 80 (C. 34:1B-1 et seq.):

a. The economic feasibility of the project;

b. The extent of economic and related social distress in the municipality and adjacent area to be affected by the project;

c. The degree to which the project will advance Statewide and regional strategies and objectives;

d. The likelihood that a project shall, after its completion, be able to repay to the fund all or part of any financing costs incurred;

e. The relationship of the project to a comprehensive local development strategy, including projects undertaken, or planned to be undertaken, within the municipality pursuant to the "New Jersey Local Development Financing Fund Act," P.L......, c......... (C............)(now pending before the Legislature as Senate Bill No. 1548 of 1980); and

f. The degree to which the project utilizes, enhances, protects and promotes public transportation systems.

L.1981, c. 505, s. 5.

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Section 34:1B-7.4 - Financing of projects; economic feasibility and recovery of costs

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Section 34:1B-7.6 - Annual report