Bill Text: NJ SCR102 | 2022-2023 | Regular Session | Introduced
Bill Title: Approves eligible historic preservation project in Monmouth County to receive low-interest loan utilizing monies from 1987 historic preservation bond act.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2022-05-26 - Substituted by ACR133 [SCR102 Detail]
Download: New_Jersey-2022-SCR102-Introduced.html
SENATE CONCURRENT RESOLUTION No. 102
STATE OF NEW JERSEY
220th LEGISLATURE
INTRODUCED MARCH 21, 2022
Sponsored by:
Senator VIN GOPAL
District 11 (Monmouth)
SYNOPSIS
Approves eligible historic preservation project in Monmouth County to receive low-interest loan utilizing monies from 1987 historic preservation bond act.
CURRENT VERSION OF TEXT
As introduced.
A Concurrent Resolution approving a historic preservation project as eligible to receive a State low-interest loan awarded by the New Jersey Historic Trust.
Whereas, The New Jersey Historic Trust is authorized pursuant to subsection b. of section 5 of the "New Jersey Green Acres, Cultural Centers and Historic Preservation Bond Act of 1987," P.L.1987, c.265, and pursuant to P.L.1991, c.41 (C.13:1B-15.115a et seq.), to award low-interest loans to county or municipal governmental entities, or to tax exempt nonprofit organizations, for the renovation, restoration, repair, or rehabilitation of historic structures or properties; and
Whereas, Under the provisions of section 2 of P.L.1991, c.41 (C.13:1B-15.115b), the sum of $3 million was appropriated from the "Cultural Centers and Historic Preservation Fund," created pursuant to section 20 of the "New Jersey Green Acres, Cultural Centers and Historic Preservation Bond Act of 1987," to the "Historic Preservation Revolving Loan Fund," created pursuant to section 1 of P.L.1991, c.41 (C.13:1B-15.115a), which is administered by the New Jersey Historic Trust, for the purpose of making low-interest loans for historic preservation projects; and
Whereas, The New Jersey Historic Trust is required pursuant to subsection b. of section 2 of P.L.1991, c.41 (C.13:1B-15.115b) to submit to the Legislature for its approval a list of projects that are to receive loans and the amount of each loan utilizing monies from the "New Jersey Green Acres, Cultural Centers and Historic Preservation Bond Act of 1987," which approval may take the form of a concurrent resolution; now, therefore,
Be It Resolved by the Senate of the State of New Jersey (the General Assembly concurring):
1. The following historic preservation project is approved as eligible to receive a low-interest loan, on such terms as may be prescribed by the New Jersey Historic Trust in accordance with law and any rules or regulations adopted pursuant thereto, with monies appropriated to the "Historic Preservation Revolving Loan Fund" pursuant to P.L.1991, c.41 (C.13:1B-15.115a et seq.):
|
County |
Municipality |
Name of Organization |
Project Name |
Grant Award
|
|
Monmouth |
Highlands Borough |
Romer Shoal Lighthouse |
Restoration of Romer Shoal Lighthouse |
$470,000 |
STATEMENT
This concurrent resolution approves a historic preservation project as eligible to receive a low-interest loan utilizing monies authorized for historic preservation purposes from the "New Jersey Green Acres, Cultural Centers and Historic Preservation Bond Act of 1987," P.L.1987, c.265. The project applicant is the Romer Shoal Lighthouse, a non-profit organization, the project is the Restoration of Romer Shoal Lighthouse in Highlands Borough, Monmouth County, and the amount of the low-interest loan would be $470,000. The New Jersey Historic Trust has approved the project for funding, subject to approval by the Legislature through adoption of this concurrent resolution and to certain other conditions imposed by the trust.
The 1987 bond act authorized the sum of $3 million for low-interest loans to help finance historic preservation projects by counties, municipalities, and tax exempt nonprofit organizations. Implementing legislation for the historic preservation loan program was enacted in 1991 (C.13:1B-115a et seq.).
