New Jersey § 34:1b-360

§ 34:1b-360.

a. Up to the limits established in this subsection and in accordance with the grant

agreement, the authority shall provide start-up rent grants to the owner and operator

of a collaborative workspace through a series of scheduled payments as set forth in

the grant agreement. The owner and operator of the collaborative workspace shall utilize the grant funding

to provide rent-free space to a start-up tenant or member business that agrees to

continue renting space in, or access to, the collaborative workspace for the start-up

tenant or member business commitment period. The maximum start-up rent grant that the authority may provide to a collaborative

workspace for the tenancy of a single start-up tenant or member business shall not

exceed $25,000 , including bonus months. The maximum aggregate amount of start-up rent grants that the authority may provide

to an approved collaborative workspace in a calendar year shall not exceed $100,000 . b. The authority may provide a start-up rent grant for the payment of rent for space

in, or access to, a collaborative workspace for up to six months; provided, however,

if a collaborative workspace or start-up tenant or member business satisfies any of

the bonuses set forth in paragraphs (1) through (5) of this subsection, then the authority

may provide an additional month of rent for each bonus satisfied by the collaborative

workspace or start-up tenant or member business. Additional months of rent provided by the authority for bonus criteria satisfied by

a collaborative workspace or start-up tenant or member business shall first be applied

to the start-up tenant or member business commitment period, followed by the collaborative

workspace commitment period. Any bonus months provided in excess of the combined commitment periods shall be

forfeited. The authority may award a bonus month if: (1) the collaborative workspace is located in a qualified opportunity zone designated

pursuant to 26 U.S.C. s.1400Z-1 ; (2) the collaborative workspace is affiliated with a hospital system or a New Jersey

university; (3) the collaborative workspace has been open less than 90 days from the date on which

the owner and operator of the collaborative workspace applied to the authority to

participate in the program and the collaborative workspace is not in the same location

as an existing facility; (4) the start-up tenant or member business for which the start-up rent grant is paid

is certified by the State as a “minority business” or a “women's business” pursuant

to P.L.1986, c. 195 ( C.52:27H-21.17 et seq. ); or (5) the start-up tenant or member business for which the start-up rent grant is paid

is the first presence of a foreign company entering into the United States. c. (1) The owner and operator of a collaborative workspace shall annually certify

to the authority, under the penalty of perjury, that it is in compliance with the

grant agreement. (2) In addition to the certification required pursuant to paragraph (1) of this subsection,

the authority shall conduct an annual inspection and review of the collaborative workspace

and may request documentation evidencing that the collaborative workspace utilized

the start-up rent grant it received from the authority in accordance with the requirements

of the program and the grant agreement. d. (1) If a start-up tenant or member business stops occupying or accessing a collaborative

workspace before the end of the start-up tenant or member business commitment period,

then the collaborative workspace shall refund to the authority that portion of the

start-up rent grant covering any period in which the start-up tenant or member business

did not have space in, or access to, the collaborative workspace. (2) If the authority determines that a collaborative workspace is not in compliance

with the requirements of the program or of the grant agreement, then the authority may rescind the business facility's certification as a collaborative workspace and bar

the business facility from further participation in the program.