New Jersey § 34:1b-21

§ 34:1b-21.

As used in sections 31 through 34 of P.L.2023, c. 311 ( C.34:1B-21.38 through 34:1B-21.41 ): “ Authority ” means the New Jersey Economic Development Authority established by section 4 of

P.L.1974, c. 80 ( C.34:1B-4 ). “ Charter school ” means a school established pursuant to P.L.1995, c. 426 ( C.18A:36A-1 et seq. ). “ Charter school development corporation ” means a non-profit corporation established pursuant to Title 15 of the Revised Statutes,

Title 15A of the New Jersey Statutes, any other law of this State, or is otherwise

qualified to do business in New Jersey and has a primary purpose of providing operational,

development, fundraising, real estate, or other supporting services to charter schools

or renaissance school projects, or other non-profit entity with experience undertaking

facilities construction, development, rehabilitation, leasing and financing, and acquisition

of real estate for community development or charter schools. “ Community Development Financial Institution ” means an entity designated and certified by the United States Department of the

Treasury as a Community Development Financial Institution pursuant to 12 C.F.R. Part 1805 . “ Department ” means the Department of Education. “ Eligible borrower ” means a non-profit charter school, non-profit renaissance school project, community

development financial institution, charter school development corporation, eligible

lender, a non-profit entity with expertise in charter school lending that can leverage

the loan, and any other entity designated an eligible borrower by the authority. Eligible borrower shall not include a charter school or renaissance school project

that is operated by a for-profit management company. “ Eligible lender ” means any lawfully constituted nonprofit mortgage lender. “ Loan fund ” means the “Charter School and Renaissance School Project Facilities Loan Fund” established

pursuant to section 33 of P.L.2023, c. 311 ( C.34:1B-21.40 ). “ Loan program ” means the “Charter School and Renaissance School Project Facilities Loan Program”

established pursuant to section 32 of P.L.2023, c. 311 ( C.34:1B-21.39 ). “ Renaissance school project ” has the same meaning as defined in section 3 of P.L.2011, c. 176 ( C.18A:36C-3 ). “ School facility ” means any structure, building, or facility used wholly or in part for educational

purposes that is owned or leased from a nonprofit entity, its wholly owned subsidiary,

or government agency and operated by a charter school or renaissance school project. “ School facilities project ” means the planning, acquisition of new land or building in the municipality in which

the charter school or renaissance school project's charter has permitted them to operate,

demolition, construction, improvement, alteration, modernization, renovation, reconstruction,

or capital maintenance of all or any part of a school facility or of any other personal

property necessary for, or ancillary to, any school facility, and shall include fixtures,

furnishings, and equipment, and shall also include, but is not limited to, refinancing

short-term bridge funding to commence construction, site acquisition, site development,

services of design professionals, such as engineers and architects, construction management,

legal services, financing costs, and administrative costs and expenses incurred in

connection with the project. “ SDA district ” is a district that received education opportunity aid or preschool expansion aid

in the 2007-2008 school year. “ Title ” means ownership, simple or in fee, or a 99-year ground leasehold.