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The original item was published from 6/30/2023 11:17:44 AM to 6/30/2023 12:45:28 PM.

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Budgeting

Posted on: June 30, 2023

[ARCHIVED] Boardwalk Preservation Fund

The Assembly Budget Committee and the Senate Budget and Appropriations Committee released on Tuesday S-3989/A-5675 which establishes the "Boardwalk Preservation Fund". The Boardwalk Preservation grant is part of the Governor’s budget proposal.

S-3989/A-5675 appropriates $100 million from the 2021 American Rescue Plan Act (ARP) funding to establish a fund within the Department of Community Affairs (DCA) that will provide grants to counties and municipalities to cover the costs related to the construction, maintenance, reconstruction, and repair of boardwalks.

Managed by the DCA the fund will have a detailed application process outlining the criteria for qualification. The DCA must ensure that this information is disseminated to coastal counties and municipalities.

DCA will also be responsible for accepting and reviewing grant applications and determining that the criteria has been met before approval. As part of the grant agreement, counties and municipalities will be required to contribute not less than 5% of the project cost. Except if the grant applicant is one of the highest 50 distress scores on the 2020 Municipal Revitalization Index will not be required to make an expenditure as a condition of the grant award.

The bills are scheduled for the June 30 Senate and Assembly Voting session, and we anticipate that they will be signed by Governor Murphy as part of the budget.

Contact: Andrew LaFevre, Legislative Analyst, alafevre@njlm.org, 609-695-3481, x116.

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