SENATE CONCURRENT RESOLUTION No. 84

STATE OF NEW JERSEY

INTRODUCED JUNE 24, 1996

By Senators CASEY and HAINES

A Concurrent Resolution approving an 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 10 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," 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 bond act, which approval shall 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 subsection a. of section 2 of P.L.1991, c.41 (C.13:1B-15.115b):

STATEMENT

    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-115a et seq.). This concurrent resolution would approve the first loan to be awarded pursuant to the program.

Approves eligible historic preservation project to receive low-interest loan utilizing monies from 1987 historic preservation bond act.