34:1B-7.5. Projects; factors for consideration for financial assistance
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/nj/title-34/chapter-1b/34-1b-7-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
With respect to projects for which costs are to be financed by the authority pursuant to this act, the authority shall in determining those projects, and in the planning and undertaking of those projects, consider the following in addition to any factors required to be considered pursuant to P.L.1974, c. 80 (C. 34:1B-1 et seq.):
a. The economic feasibility of the project;
b. The extent of economic and related social distress in the municipality and adjacent area to be affected by the project;
c. The degree to which the project will advance Statewide and regional strategies and objectives;
d. The likelihood that a project shall, after its completion, be able to repay to the fund all or part of any financing costs incurred;
e. The relationship of the project to a comprehensive local development strategy, including projects undertaken, or planned to be undertaken, within the municipality pursuant to the "New Jersey Local Development Financing Fund Act," P.L.1983, c.190 (C.34:1B-36 et seq.); and
f. The degree to which the project utilizes, enhances, protects and promotes public transportation systems.
L.1981, c. 505, s. 5.