SENATE ENVIRONMENT COMMITTEE

STATEMENT TO

ASSEMBLY CONCURRENT RESOLUTION No. 87

STATE OF NEW JERSEY

DATED: MARCH 10, 1997

      The Senate Environment Committee favorably reports Assembly Concurrent Resolution Bill No. 87.

      This concurrent resolution approves a certain 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 United Methodist Church of Mounty Holly, in Burlington county, and the amount of the low-interest loan would be $30,000.

      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-15.115a et seq.). This concurrent resolution would approve the first loan to be awarded pursuant to the program.

      This bill is identical to Senate Concurrent Resolution No. 84 which was released from the committee as well.