New Jersey § 13:16-7

§ 13:16-7.

The commissioner is hereby authorized to make grants to recognized economic development

agencies, to assist such agencies in the financing of their operational costs for

the purposes of making studies, surveys and investigations, the compilation of data

and statistics and in the carrying out of planning and promotional programs: Provided,

that, before any such grant may be made: (a) The economic development agency shall have made application to the commissioner

for such grant, and shall have therein set forth the studies proposed to be made,

the statistics, data and surveys proposed to be completed, and the program proposed

to be undertaken for the purpose of encouraging and stimulating economic development

in the county, municipality or region. The application shall further state, under oath or affirmation, with evidence thereof

satisfactory to the commissioner, the amount of funds held by, committed or subscribed

to the economic development agency for application to the purposes herein described

and the amount of the grant for which application is made; and (b) The commissioner, after review of the application, if satisfied that the program

of the economic development agency appears to be in accord with the purposes of this

act, shall authorize the making of a matching grant to such economic development agency,

not to exceed 50% of the funds allocated by the agency to the program described in

its application.