52:27D-493 - Neighborhood preservation and revitalization plan required for eligibility - New Jersey Statutes

52:27D-493  Neighborhood preservation and revitalization plan required for eligibility.
4.In order for an entity to be eligible to receive a tax credit pursuant to P.L.2001, c.415 (C.52:27D-490 et seq.), the nonprofit organization which is the recipient of funding provided by the entity shall submit a neighborhood preservation and revitalization plan to the department for approval, and shall submit a proposed project which defines the elements of the plan to be implemented with the funds provided.  Two or more nonprofit organizations may submit a plan to the department jointly. Any such plans shall designate one nonprofit organization as the lead organization with responsibility for the plan.

L.2001,c.415,s.4.