OFFICIAL SITE OF THE STATE OF NEW JERSEY[vc_row][vc_column offset=”vc_col-lg-9 vc_col-md-9″ el_class=”order-2″][breadcrumb-shortcode][vc_column_text]
Hazardous Discharge Site Remediation Fund (HDSRF) – Changes Due To A1954 (January 16, 2018)
HDSRF Changes as a result of A1954 Download [pdf]
| Financial Assistance & Grants | Prior Law | New Changes | Change |
|---|---|---|---|
| Innovative Technology Grant | Grant Eligible | Eliminated. | Eliminating Innovative Technology Grants |
| Limited Restricted Use portion of the Limited Restricted/ Unrestricted Use Grant |
Grant Eligible | Eliminated. | Eliminating the Limited Restricted Use Grants |
| Innocent Party Grants | Grant Eligible | Eliminated. | Eliminating Innocent Party Grants |
| Maximum loan to a person | $1,000,000/Year | $500,000/Year | Reduction of $500,000. |
| Recreation & Conservation Grants (Statewide Cap) | $5,000,000/Year | $2,500,000/Year | Reduction of $2,500,000/year. |
| Maximum in Grants/Loans to Public Entity | $3,000,000/Year | 2,000,000/Year | Reduction of $1,000,000. |
| Maximum in Grants to Public Entity with BDAs | Additional $2,000,000/Year | Additional $1,000,000/Year | Reduction of $1,000,000 |
| Timeframe for Completion of Preliminary Assessment (PA) or Site Investigation (SI) | No completion date specified. | Completed within 2 years of financial assistance or grant award date. | Specifies a time frame for the completion of the PA or SI. Award will be cancelled if the time is exceeded. |
| Timeframe for Completion of a Remedial Investigation (RI). | No completion date specified. | Completion within 5-years of financial assistance or grant award date. | Specifies a time frame for the completion of the RI. Award will be cancelled if the time is exceeded. |
| Demonstrate Awards are or will be fully spent prior to supplemental awards being granted | No prior requirement. | Must demonstrate that the full amount of previous financial assistance spent or will be spent prior to seeking additional award for same property. | Demonstrate all previous awards have been or will be fully expended before additional awards can be obtained for the same property. |
| Prioritization |
|
|
BDA sites inserted as 2nd Priority |
| Prioritization | Readiness to proceed not previously part of criteria for prioritization. | Readiness to proceed is now a factor to be considered in prioritization | Readiness to proceed becomes a factor in the prioritization of grants. |
| Realistic Opportunity vs. Commitment | Provide Resolution stating that there is a realistic opportunity to develop site within 3 years from completion of remediation | EDA to develop criteria for government agencies to show a commitment to develop the property. | Criteria to be developed to show Commitment to development of site upon completion of remediation. |
| Funds dedicated to non-BDA PA/SI/RI Grants | No specific allocation | 30% of Fund allocated to PA/SI/RI grants for sites not within a Brownfield Development Area (BDA) | Allocation of 30% of Funding to non-BDA PA/SI/RI grants |
| Tax Clearance Certificate | Municipalities were not required to provide a Tax Clearance Certification | Municipalities are required to provide a Tax Clearance Certification | Change in EDA policy requiring Tax Clearance Certification (not a A1954 change) |
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