New Jersey Senate Bill SCR102

New Jersey 2022-2023 Regular Session

• Introduced: 3/21/22
• Refer: 3/21/22
• Report Pass: 5/19/22

Caption

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

Impact

SCR102 allows the New Jersey Historic Trust to disburse a loan amounting to $470,000 to the project through its Historic Preservation Revolving Loan Fund. This funding is enabled by an appropriation of $3 million earmarked for historic preservation efforts, designed to support counties, municipalities, and tax-exempt organizations in their endeavor to protect and maintain significant historical structures.

Summary

Senate Concurrent Resolution No. 102 (SCR102) is a legislative measure introduced to approve an eligible historic preservation project located in Monmouth County, New Jersey. The resolution aims to provide a low-interest loan to a non-profit organization, specifically designated for the renovation and restoration of the Romer Shoal Lighthouse. The project qualifies for funding under provisions laid out in the New Jersey Green Acres, Cultural Centers and Historic Preservation Bond Act of 1987, which had previously authorized funds for such initiatives.

Contention

The process for approving such loans involves the New Jersey Historic Trust submitting a project list to the legislature for approval, which is done via a concurrent resolution like SCR102. While the bill presents an opportunity to enhance heritage sites, discussions may arise regarding the prioritization of such funds and the effectiveness of the state's historic preservation funding mechanisms. Concerns may also revolve around the allocation of public funds toward projects of historical interest amid other pressing community needs.