SENATE, No. 2594 STATE OF NEW JERSEY 221st LEGISLATURE INTRODUCED FEBRUARY 8, 2024
SENATE, No. 2594
STATE OF NEW JERSEY
221st LEGISLATURE
INTRODUCED FEBRUARY 8, 2024
Sponsored by: Senator ANTHONY M. BUCCO District 25 (Morris and Passaic) SYNOPSIS Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects. CURRENT VERSION OF TEXT As introduced.
Sponsored by:
Senator ANTHONY M. BUCCO
District 25 (Morris and Passaic)
SYNOPSIS
Appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.
CURRENT VERSION OF TEXT
As introduced.
An Act appropriating $22,431,294 from the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and $6,239,630 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, to provide loans for dam restoration and repair projects and inland waters projects. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. a. There is appropriated to the Department of Environmental Protection from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, the sum of $22,431,294, made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects and inland waters projects undertaken by, or on behalf of, the owners of dams or lakes. This sum shall include administrative costs and shall be allocated as follows: Dam Name Applicant Loan Amount High Crest Lake Dam High Crest Lake Lodge, Inc. $1,250,000 Mount Glen Dam Mount Glen Lakes Assoc. $3,000,000 Lake Winona Dam Lake Winona Civic Assoc. $4,700,000 Cooper River Pkwy. Dam Camden County $2,000,000 Giffords Mill Dam Pinelands Regional School District $707,319 Upper & Lower Farm Crest Farm Crest Acres Assoc. $350,000 Lake Plymouth Dam Lake Plymouth Comm. Assoc. $1,200,000 Braddock Mill Lake Dam Braddocks Mill Conservation Assoc. $1,046,800 Fawn Lake Dam Deer Trail Lake Comm. Club $2,420,000 Camp Karney Dam Salem County $3,400,000 Pine Mill Lake Dam Pemberton Township $545,000 Holiday Pond Dam Community Corp. of Highpoint, Inc. $750,000 High Crest Lake High Crest Lake Lodge, Inc. $500,000 Administrative Costs $562,175 b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "2003 Dam, Lake and Stream Project Revolving Loan Fund" for re-appropriation to fund additional projects authorized by law. c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor. d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "2003 Dam, Lake and Stream Project Revolving Loan Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law. e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.2003, c.162. 2. a. There is appropriated to the Department of Environmental Protection from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $6,239,630 made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects. This sum shall be allocated as follows: Project Name Applicant Loan Amount Mountain Creek Lake Dam Mountain Creek Resort $3,000,000 Silver Lake Dam Silver Lake Assoc. $289,630 Lake Garrison Dam Lake Garrison, Inc. $2,850,000 Swannanoa Lake Dam Lake Swannanoa Homeowners Assoc. $100,000 b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "1992 Dam Restoration and Clean Water Trust Fund" for re-appropriation to fund additional projects authorized by law. c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection b. of this section shall require the approval of the Joint Budget Oversight Committee or its successor. d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "1992 Dam Restoration and Clean Water Trust Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law. e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.1992, c.88. 3. This act shall take effect immediately. STATEMENT This bill appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects, including administrative costs, for 17 projects identified in the bill. Of this funding: $22,431,294 is from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162; and $6,239,630 is from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88. These monies are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments. The funds from the 2003 bond act will provide 13 loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams and to an inland waters project. The funds from the 1992 bond act will provide four loans to assist private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration projects. In addition, the bill appropriates monies that may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the 2003 and 1992 fund, as appropriate, to fund projects listed in the bill and additional projects authorized by law.
An Act appropriating $22,431,294 from the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and $6,239,630 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, to provide loans for dam restoration and repair projects and inland waters projects.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is appropriated to the Department of Environmental Protection from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, the sum of $22,431,294, made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects and inland waters projects undertaken by, or on behalf of, the owners of dams or lakes. This sum shall include administrative costs and shall be allocated as follows:
Dam Name Applicant Loan Amount
High Crest Lake Dam High Crest Lake Lodge, Inc. $1,250,000
Mount Glen Dam Mount Glen Lakes Assoc. $3,000,000
Lake Winona Dam Lake Winona Civic Assoc. $4,700,000
Cooper River Pkwy. Dam Camden County $2,000,000
Giffords Mill Dam Pinelands Regional School District $707,319
Upper & Lower Farm Crest Farm Crest Acres Assoc. $350,000
Lake Plymouth Dam Lake Plymouth Comm. Assoc. $1,200,000
Braddock Mill Lake Dam Braddocks Mill Conservation Assoc. $1,046,800
Fawn Lake Dam Deer Trail Lake Comm. Club $2,420,000
Camp Karney Dam Salem County $3,400,000
Pine Mill Lake Dam Pemberton Township $545,000
Holiday Pond Dam Community Corp. of Highpoint, Inc. $750,000
High Crest Lake High Crest Lake Lodge, Inc. $500,000
Administrative Costs $562,175
Dam Name
Applicant
Loan
Amount
High Crest Lake Dam
High Crest Lake Lodge, Inc.
$1,250,000
Mount Glen Dam
Mount Glen Lakes Assoc.
$3,000,000
Lake Winona Dam
Lake Winona Civic Assoc.
$4,700,000
Cooper River Pkwy. Dam
Camden County
$2,000,000
Giffords Mill Dam
Pinelands Regional School District
$707,319
Upper & Lower Farm Crest
Farm Crest Acres Assoc.
$350,000
Lake Plymouth Dam
Lake Plymouth Comm. Assoc.
$1,200,000
Braddock Mill Lake Dam
Braddocks Mill Conservation Assoc.
$1,046,800
Fawn Lake Dam
Deer Trail Lake Comm. Club
$2,420,000
Camp Karney Dam
Salem County
$3,400,000
Pine Mill Lake Dam
Pemberton Township
$545,000
Holiday Pond Dam
Community Corp. of Highpoint, Inc.
$750,000
High Crest Lake
High Crest Lake Lodge, Inc.
$500,000
Administrative Costs
$562,175
b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "2003 Dam, Lake and Stream Project Revolving Loan Fund" for re-appropriation to fund additional projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "2003 Dam, Lake and Stream Project Revolving Loan Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.2003, c.162.
2. a. There is appropriated to the Department of Environmental Protection from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $6,239,630 made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects. This sum shall be allocated as follows:
Project Name Applicant Loan Amount
Mountain Creek Lake Dam Mountain Creek Resort $3,000,000
Silver Lake Dam Silver Lake Assoc. $289,630
Lake Garrison Dam Lake Garrison, Inc. $2,850,000
Swannanoa Lake Dam Lake Swannanoa Homeowners Assoc. $100,000
Project Name
Applicant
Loan
Amount
Mountain Creek Lake Dam
Mountain Creek Resort
$3,000,000
Silver Lake Dam
Silver Lake Assoc.
$289,630
Lake Garrison Dam
Lake Garrison, Inc.
$2,850,000
Swannanoa Lake Dam
Lake Swannanoa
Homeowners Assoc.
$100,000
b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "1992 Dam Restoration and Clean Water Trust Fund" for re-appropriation to fund additional projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection b. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the "1992 Dam Restoration and Clean Water Trust Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.1992, c.88.
3. This act shall take effect immediately.
STATEMENT
This bill appropriates $28,670,924 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects, including administrative costs, for 17 projects identified in the bill.
Of this funding: $22,431,294 is from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162; and $6,239,630 is from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88. These monies are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments.
The funds from the 2003 bond act will provide 13 loans to owners of private dams, or private lake associations or similar organizations, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams and to an inland waters project. The funds from the 1992 bond act will provide four loans to assist private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration projects.
In addition, the bill appropriates monies that may be, or may become, available on or before June 30, 2023, due to interest earnings or loan repayments to the 2003 and 1992 fund, as appropriate, to fund projects listed in the bill and additional projects authorized by law.