The Historic Preservation Revolving Loan Fund, established in 1987 and funded through a state bond program, provides financing for the preservation, improvement, restoration, rehabilitation, and acquisition of historic properties.
- are agencies or entities of county or municipal government; or
- nonprofit organizations that are certified tax-exempt and comply with New Jersey charity registration laws
- listed in the New Jersey or National Register of Historic Places;
- contribute to the significance of a historic district listed in the New Jersey or National Register of Historic Places; or
- are certified as eligible for listing by the Deputy State Historic Preservation Officer.
Unless the application is a request for acquisition, applicants must demonstrate control of the property through a deed or valid lease.
Loans may be used for preservation, improvement, restoration, rehabilitation and acquisition of historic properties.
The minimum loan amount to be accepted for review is $25,000. No single loan amount can exceed 15% of the revolving loan fund balance as of July 1 of the current fiscal year. Currently, the maximum available loan is $370,000. The interest rate on these loans is no more than 4%, and the term of the loan repayment period is up to twenty years, although the usual range is from five to ten years.
The following criteria will be used to evaluate and rank applications for grant awards:
- Historical significance of the property.
- Extent of accessibility by the public;
- Quality of plans for preservation of the property;
- Compliance with the Secretary of the Interior's Standards for Treatment of Historic Properties (Rev. 1995); and
- Applicant's general ability to repay and provide adequate security for the loan.
Potential applicants must consult with the Trust staff prior to applying. Contact Glenn Ceponis at 609 777 1204. Download the Revolving Loan Fund Application Part A.