New Jersey § 34:1b-38

§ 34:1b-38.

As used in this act: a. “ Fund ” means the New Jersey Local Development Financing Fund established in section 4 of

this act. 1 b. “ Commissioner ” means the Commissioner of the Department of Commerce and Economic Development or

his designated representative, which may be the New Jersey Economic Development Authority. c. “ Sponsor ” means the governing body of a municipality or, with the approval of the government

of a municipality, a local development corporation, community development corporation,

municipal port authority established pursuant to the provisions of P.L.1960, c. 192

( C. 40:68A-29 et seq. ), or governing body of a county, or, with the approval of the government of a county,

a county development corporation or other public entity designated by the commissioner

as a sponsor. d. “ Municipality ” means a municipality qualifying for aid pursuant to P.L.1978, c. 14 ( C. 52:27D-178 et seq. ) or which would qualify under that act except for the population criterion. e. “ Project ” means an industrial or commercial enterprise within a municipality that would not

be undertaken in its intended scope without the provision of financial assistance

pursuant to this act and will be economically viable with the assistance. f. “ Eligible project ” means a project which has been approved by the commissioner to receive financial

assistance from the New Jersey Local Development Financing Fund. g. “ Eligible project cost ” means the cost of planning, developing, executing, and making operative an industrial

or commercial redevelopment project. Eligible project cost includes the cost: (1) Of purchasing, leasing, condemning, or otherwise acquiring land or other property,

or an interest therein, in the designated project area or as necessary for a right-of-way

or other easement to or from the project area; (2) Incurred for, or in connection with or incidental to, acquiring and managing the

land, property or interest; (3) Incurred for or in connection with the relocating and moving of persons displaced

by the acquisition; (4) Of development or redevelopment, including: (a) The comprehensive renovation or rehabilitation of the land, property or interest; (b) The cost of equipment and fixtures which are part of the real estate and the cost

of production machinery and equipment necessary for the operation of the project; (c) The cost of energy conservation improvements designed to encourage the efficient

use of energy resources, including renewable and alternative energy resources and

cogenerating facilities; and (d) The disposition of land or other property for these purposes; (5) Of demolishing, removing, relocating, renovating, altering, constructing, reconstructing,

installing or repairing any land or any building, street, highway, alley, utility,

service or other structure or improvement; (6) Of acquisition, construction, reconstruction, rehabilitation or installation of

public facilities and improvements necessary to a project; and (7) Incurred for or incidental to doing anything enumerated in this subsection, including

the cost and expense of securing: (a) Administrative, appraisal, economic and environmental analyses; (b) Engineering service; (c) Planning service; (d) Design service; (e) Architectural service; (f) Surveying service; and (g) Other professional service. 1

N.J.S.A. § 34:1B-39.