New Jersey § 34:1b-278

§ 34:1b-278.

As used in sections 9 through 19 of P.L.2020, c. 156 ( C.34:1B-277 through C.34:1B-287 ): “ Authority ” means the New Jersey Economic Development Authority established by section 4 of

P.L.1974, c. 80 ( C.34:1B-4 ). “ Board ” means the Board of the New Jersey Economic Development Authority, established pursuant

to section 4 of P.L.1974, c. 80 ( C.34:1B-4 ). “ Brownfield site ” means any former or current commercial or industrial site that is currently vacant

or underutilized and on which there has been, or there is suspected to have been,

a discharge of a contaminant or on which there is contaminated building material. “ Building services ” means any cleaning or routine building maintenance work, including, but not limited

to, sweeping, vacuuming, floor cleaning, cleaning of rest rooms, collecting refuse

or trash, window cleaning, securing, patrolling, or other work in connection with

the care or securing of an existing building, including services typically provided

by a door-attendant or concierge. “Building services” shall not include any skilled maintenance work, professional

services, or other public work for which a contractor is required to pay the “prevailing

wage” as defined in section 2 of P.L.1963, c. 150 ( C.34:11-56.26 ). “ Contaminated building material ” means components of a structure where abatement or removal of asbestos, or remediation

of materials containing hazardous substances defined pursuant to section 3 of P.L.1976,

c. 141 ( C.58:10-23.11b ), is required by applicable federal, state, or local rules or regulations. “ Contamination ” or “ contaminant ” means any discharged hazardous substance as defined pursuant to section 3 of P.L.1976,

c. 141 ( C.58:10-23.11b ), hazardous waste as defined pursuant to section 1 of P.L.1976, c. 99 ( C.13:1E-38 ), pollutant as defined pursuant to section 3 of P.L.1977, c. 74 ( C.58:10A-3 ), or contaminated building material. “ Department ” means the Department of Environmental Protection. “ Developer ” means any person that enters or proposes to enter into a redevelopment agreement

with the authority pursuant to the provisions of section 13 of P.L.2020, c. 156 ( C.34:1B-281 ). “ Director ” means the Director of the Division of Taxation in the Department of the Treasury. “ Government-restricted municipality ” means a municipality in this State with a municipal revitalization index distress

score of at least 75, that met the criteria for designation as an urban aid municipality

in the 2019 State fiscal year, and that, on the effective date of P.L.2020, c. 156 ( C.34:1B-269 et al.), is subject to financial restrictions imposed pursuant to the “Municipal

Stabilization and Recovery Act,” P.L.2016, c. 4 ( C.52:27BBBB-1 et seq. ), or is restricted in its ability to levy property taxes on property in that municipality

as a result of the State of New Jersey owning or controlling property representing

at least 25 percent of the total land area of the municipality or as a result of the

federal government of the United States owning or controlling at least 50 acres of

the total land area of the municipality, which is dedicated as a national natural

landmark. “ Licensed site remediation professional ” means an individual who is licensed by the Site Remediation Professional Licensing

Board pursuant to section 7 of P.L.2009, c. 60 ( C.58:10C-7 ) or the department pursuant to section 12 of P.L.2009, c. 60 ( C.58:10C-12 ). “ Program ” means the Brownfields Redevelopment Incentive Program established by section 11

of P.L.2020, c. 156 ( C.34:1B-279 ). “ Project financing gap ” means the part of the total remediation cost, including reasonable and appropriate

return on investment, that remains to be financed after all other sources of capital

have been accounted for, including, but not limited to, developer contributed capital,

which shall not be less than 20 percent of the total remediation cost, and investor

or financial entity capital or loans for which the developer, after making all good

faith efforts to raise additional capital, certifies that additional capital cannot

be raised from other sources ; provided, however, that for a redevelopment project located in a government-restricted

municipality, the developer contributed capital shall not be less than 10 percent

of the cost of rehabilitation. Developer contributed capital may consist of cash, deferred development fees, costs

for project feasibility incurred within the 12 months prior to application, property

value less any mortgages when the developer owns the project site, and any other investment

by the developer in the project deemed acceptable by the authority, as provided by

regulations promulgated by the authority. Property value shall be valued at the lesser of either: a. the purchase price,

provided the property was purchased pursuant to an arm's length transaction within

12 months of application; or b. the value as determined by a current appraisal . “ Qualified incentive tract ” means: a. a population census tract having a poverty rate of 20 percent or more;

or b. a census tract in which the median family income for the census tract does not

exceed 80 percent of the greater of the Statewide median family income or the median

family income of the metropolitan statistical area in which the census tract is situated. “ Redevelopment agreement ” means an agreement between the authority and a developer under which the developer

agrees to perform any work or undertaking necessary for the remediation of a brownfield site located at the site of the redevelopment project, and for the clearance, development

or redevelopment, construction, reconstruction, or rehabilitation of any structure

or improvement of commercial, industrial, or public structures or improvements within

an area of land whereon a brownfield site is located. “ Redevelopment project ” means a specific construction project or improvement undertaken, pursuant to the

terms of a redevelopment agreement, by a developer within an area of land whereon

a brownfield site is located. A redevelopment project may involve construction or improvement upon lands, buildings,

improvements, or real and personal property, or any interest therein, including lands

under water, riparian rights, space rights, and air rights, acquired, owned, developed

or redeveloped, constructed, reconstructed, rehabilitated, or improved. “ Remediation ” or “ remediate ” means all necessary actions to investigate and clean up or respond to any known,

suspected, or threatened discharge of contaminants, including, as necessary, the preliminary

assessment, site investigation, remedial investigation, and remedial action, or any

portion thereof, as those terms are defined in section 23 of P.L.1993, c. 139 ( C.58:10B-1 ); and hazardous materials abatement; hazardous materials or waste disposal; building

and structural remedial activities, including, but not limited to, demolition, asbestos

abatement, polychlorinated biphenyl removal, contaminated wood or paint removal, or

other infrastructure remedial activities; provided, however, “remediation” or “remediate”

shall not include the payment of compensation for damage to, or loss of, natural resources. “ Remediation costs ” means all reasonable costs associated with the remediation of a contaminated site,

except any costs incurred in financing the remediation.