Title 52, STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

52:27D-450 Preparation of reports on program. 8. The department shall prepare a report within two years following the effective date of P.L.1999, c.239 (C.52:27D-443 et seq.), and not later than September 15 of each third year thereafter. The report shall include, but not be limi…

52:27D-451 Rules, regulations. 9. The department shall adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations as may be necessary to effectuate the purposes of P.L.1999, c.239 (C.52:27D-443 et seq.) including, but not li…

52:27D-452 "Main Street New Jersey" program; duties of DCA. 1. a. There is created in the Division of Housing and Community Resources in the Department of Community Affairs the "Main Street New Jersey" program as a comprehensive revitalization program to promote the historic and …

52:27D-453 Rules, regulations. 2. Pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), the Commissioner of Community Affairs shall adopt rules and regulations governing the qualifications of applicants, the application procedures, and the criteria…

52:27D-454 Assistance provided to certain municipalities. 3. The commissioner shall provide assistance under this program to municipalities selected through a competitive application process. A municipality shall have historic architectural resources in a defined downtown commerc…

52:27D-454.1 UEZ funding assistance included for eligibility for "Main Street New Jersey" program. 1. Notwithstanding the provisions of any law, rule or regulation to the contrary, a municipality designated as an urban enterprise zone pursuant to the provisions of P.L.1983, c.303…

52:27D-455 Services provided to municipality selected for program. 4. The commissioner shall provide services to each municipality selected to participate in the "Main Street New Jersey" program at no additional cost to the municipality. Those services shall include, but shall no…

52:27D-456 Main Street New Jersey Advisory Board. 5. The Main Street New Jersey Advisory Board is established for the purposes of providing guidance and advocacy in formulating policy and assisting with the long-term planning and administration of the "Main Street New Jersey" pro…

52:27D-457 "Main Street New Jersey Program Fund." 6. There is established in the Department of Community Affairs the "Main Street New Jersey Program Fund," which shall consist of all funds appropriated to the "Main Street New Jersey" program by the Legislature, and also any gifts…

52:27D-458 Continued provision of assistance to municipalities selected prior to law. 7. The commissioner shall continue to provide the assistance required under P.L.2001, c.238 (C.52:27D-452 et seq.) to municipalities that were selected to participate in the "Main Street New Jer…

52:27D-459. Short title 11. Sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) shall be known and may be cited as the "Revenue Allocation District Financing Act." L.2001,c.310,s.11.

52:27D-46. Legislative findings The Legislature finds that there exist in many municipalities in this State blighted areas by reason of hazardous, unsafe, unsanitary, dilapidated or overcrowded conditions and other conditions constituting a serious and growing menace, injurious t…

52:27D-460 Findings, declaration relative to "Revenue Allocation District Financing Act" 12. The Legislature finds and declares that: a. There are areas within certain municipalities in this State that deter private capital investment because of the deteriorating condition of the…

52:27D-461 Definitions relative to the "Revenue Allocation District Financing Act." 13. As used in sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.): "Area in need of redevelopment" means a redevelopment area as defined pursuant to section 3 of P.L.1992, c.79 (C.40…

52:27D-462. Establishment of districts 14. The governing body of any municipality may by ordinance establish a district or districts. In the case of a municipality whose redevelopment powers are assigned by law to a regional planning commission, the commission may, by resolution,…

52:27D-463. Proposed preliminary revenue allocation plan 15. The proposed preliminary revenue allocation plan shall include: a. a certification by the municipal tax assessor of the property tax increment base of the district; b. a statement of the revenues, if any, to be pledged …

52:27D-464. Submission of ordinance as application 16. When an ordinance establishing or amending a district has passed first reading, it shall be submitted as an application, together with all included and incorporated certificates and documents and such additional documentation…

52:27D-465. Written recommendations by board 17. a. The board may make written recommendations as to any aspect of the ordinance and the preliminary revenue allocation plan and any related fiscal matters of the municipality which in the opinion of the board shall be changed in or…

52:27D-466. No alteration of established district without amending ordinance 18. After adoption of the ordinance establishing a district there shall be no expansion or contraction of the boundaries of the district, the designation of the district agent, or the designation of the …

52:27D-467. Property tax increment base for altered districts 19. Whenever a district is expanded as permitted under section 18 of P.L.2001, c.310 (C.52:27D-466) the property tax increment base for any area added to the district shall be the aggregate taxable value of all propert…

52:27D-468. Powers, responsibilities of district agent 20. The district agent shall have the following powers and responsibilities to the extent so designated by ordinance: a. to make and enter into contracts or agreements with public agencies, nonprofit corporations or other sui…

52:27D-469. Eligible revenues 21. The plan may include one or more of the following eligible revenues if the municipality is otherwise authorized by law to collect such revenues: a. incremental payments in lieu of taxes, with respect to property located in the district, made purs…

52:27D-47. Definitions The following terms whenever used or referred to in this act have the following respective meanings, except in those instances where the context clearly indicates otherwise: (a) The term "act" shall mean this act, and amendments and supplements thereto, and…

52:27D-470. Adoption of final revenue allocation plan 22. Before pledging any revenues, issuing any bonds, incurring any obligations or guaranteeing the obligations of any other entity with respect to the project costs of any project, the district agent shall adopt a final revenu…

52:27D-471. Submissions of final revenue allocation plan 23. A final revenue allocation plan shall be submitted to the governing body of the municipality for approval by ordinance. When an ordinance embodying a final revenue allocation plan has been introduced in writing at a mee…

52:27D-472. Written recommendations by board 24. a. The board may make written recommendations as to any aspect of the plan and any related fiscal matters of the municipality or the district agent which, in the determination of the board, must be changed in order to effectuate th…

52:27D-473. Calculation of property tax increment 25. If the preliminary revenue allocation plan has designated the property tax increment as a pledged revenue, the property tax increment shall be calculated and paid to the revenue allocation fund or the bond trustee, as appropri…

52:27D-474. Deposit of pledged revenues 26. If the preliminary revenue allocation plan has designated any eligible revenues, in addition to or other than the property tax increment, as a pledged revenue, the other pledged revenues shall be deposited as provided in this section. a…

52:27D-475. Submission of operating budget 27. The district agent shall submit its operating budget for the district annually to the Director of the Division of Local Government Services in the Department of Community Affairs. If the district agent certifies that the budget is in…

52:27D-476. Revenue allocation fund for district 28. The district agent shall establish and maintain a special fund called the "(Name of district agent) Revenue Allocation Fund," and herein referred to as "district fund" or "fund." The fund shall be used by the district agent for…

52:27D-477. Payment of project costs; distribution of moneys 29. a. Prior to the adoption of a final revenue allocation plan, the district agent may draw money from the revenue allocation fund for purposes of paying all project costs incurred in connection with the development of…

52:27D-478. Termination, dissolution of district 30. Subject to the limitations contained in the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.), each district shall remain in existence until obligations for any projec…

52:27D-479 Calculation of general tax rate. 31. a. In calculating the general tax rate levied each year, the aggregate amount of the ratable increments of the revenue allocation districts that have been pledged to bondholders or are otherwise required by the district agent for th…

52:27D-48. Application for capital grant; factors considered (a) The commissioner may make, or contract to make, a State capital grant to a municipality or to a local public agency to assist said municipality or local public agency in carrying out one or more urban renewal projec…

52:27D-480. Powers of district agent following adoption of ordinance 32. Upon approval of the resolution by the board and adoption of an ordinance approving or adopting: a. the final revenue allocation plan by the municipal governing body, or b. a determination regarding a partic…

52:27D-481. Issuance of bonds, notes 33. Bonds or notes of the district agent shall be authorized by a resolution or resolutions of the district agent and may be issued in one or more series and shall bear such dates, mature at such times, bear interest at such rates of interest …

52:27D-482. Bonds, notes considered general obligations 34. Each issue of bonds or notes of the district may, if it is determined by the district agent, be general obligations thereof payable out of any revenues, receipts or funds held by the district agent, subject only to any a…

52:27D-483. Guarantee of bonds 35. The municipal governing body may provide for the guarantee of any such bonds and may issue general obligation bonds to provide for the funding of such guarantee which shall be authorized pursuant to the provisions of the "Local Bond Law," N.J.S.…

52:27D-484. Power of district agent to secure payment 36. In any resolution of the district agent authorizing or relating to the issuance of any bonds or notes, the district agent, in order to secure the payment of the bonds or notes and in addition to its other powers, shall hav…

52:27D-485. Pledge of district agent valid, binding 37. Any pledge of revenues, receipts, moneys, funds, levies, sales agreements, service contracts or other property or instruments made by the district agent shall be valid and binding from the time when the pledge is made. The r…

52:27D-486. Immunity from personal liability 38. Neither the directors of the district agent nor any person executing bonds or notes issued pursuant to the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) shall be liable personally on the bonds …

52:27D-487. Establishment of reserves, funds, account 39. The district agent may establish such reserves, funds or account as may be, in its discretion, necessary or desirable to further the accomplishment of the purposes of the district agent or to comply with the provisions of …

52:27D-488. Bonds exempt from taxation 40. Bonds, notes or other obligations issued pursuant to the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) are for an essential public and governmental purpose, and the bonds, notes or other obligations,…

52:27D-489. Severability 41. If any section, part, phrase, or provision of the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) of the application thereof to any person, project or circumstances, be adjudged invalid by any court of competent jur…

52:27D-489a Short title. 1. This act shall be known and may be cited as the "New Jersey Economic Stimulus Act of 2009." L.2009, c.90, s.1.

52:27D-489b Findings, declarations relative to economic stimulus. 2. The Legislature finds and declares: a. The State of New Jersey is confronting a fiscal and economic crisis more severe than any experienced since the Great Depression. Counties and municipalities are likewise wi…