Bill Text: NJ SCR129 | 2018-2019 | Regular Session | Introduced


Bill Title: Approves eligible historic preservation project in Camden County to receive low-interest loan utilizing monies from 1987 historic preservation bond act.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2018-07-01 - Substituted by ACR182 [SCR129 Detail]

Download: New_Jersey-2018-SCR129-Introduced.html

SENATE CONCURRENT RESOLUTION No. 129

STATE OF NEW JERSEY

218th LEGISLATURE

 

INTRODUCED JUNE 27, 2018

 


 

Sponsored by:

Senator  NILSA CRUZ-PEREZ

District 5 (Camden and Gloucester)

 

 

 

 

SYNOPSIS

     Approves eligible historic preservation project in Camden 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

 

Camden

Camden City

Camden County Historical Society

Pomona Hall

$90,000


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 Camden County Historical Society, the project is Pomona Hall in Camden City, Camden County, and the amount of the low-interest loan would be $90,000.  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.).

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