Thank you, counselor, you are most informative; a few very interesting points taken from the rule:
"(b) Financial assistance shall be on a reimbursement basis to an owner of rail property, operator of rail freight service, or responsible public agency or authority."
So, pay for your grant application work, then the state will send you a check to reimburse you.....
"(a) Financial assistance for a project is limited in duration to a period not to exceed three years from the date of execution of the project agreement. Should circumstances dictate that a
project's duration extend beyond three years, the sponsor shall request such an extension from the Department in writing, including a detailed justification for the request."
Nearly one year has passed, so presumably time is of the essence for the line south of MP66.
"9. A certification signed by the applicant, or the owner of the property if other than the applicant, agreeing that the State may record a lien against the property in the amount of
the full value of the improvements made to the property as a guarantee that the applicant, or owner of the property if other than the applicant, will cause or use its best efforts to
cause common rail freight service to be provided using the rail freight facilities or right-of-way that is the subject of assistance for a period of no less than five years from the date
the State provides written notification of acceptance of the funded project is complete."
Does this mean that NJSL must provide (or attempt to provide using best efforts) rail service for 5 years upon completion of work? The word 'lien' is not so nice of a word, any way you slice it......
With all the stipulations involved, I would think that it is not worth it at all to proceed with any work unless the applicant is certain that it can fulfill the agreement. I presume that if nothing is started, then no harm, no foul, aside from the 10% applicant cost (in this case, $150K); but......if no work is done, does the applicant still owe the 10%?
"Old railfans never die, they just lose track......"
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