N.J. Admin. Code § 9A:18-1.2
The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise. Additional definitions that apply to this chapter can be found at P.L. 2012, c. 41, §3.
"Act" or "Bond Act" means the Building Our Future Bond Act, P.L. 2012, c. 41.
"Construction ready" means the extent to which the planning and design work have been completed and construction is able to begin, and the degree to which a project shall be completed expeditiously once begun. An evaluation of whether a project is construction ready shall include the status of the design work, project site readiness, zoning and permitting approvals, as well as the anticipated timeframe during which the project will be completed, and the pacing of related construction.
"Cost-effectiveness" means the degree to which a project produces a positive economic analysis when considering the construction, operating, and maintenance expenses, compared to the project's resultant facilities and/or equipment, the life span of the facilities and/or equipment, facility usage and capacity, user productivity, and, where appropriate, such attributes as aesthetics, historic preservation, security, and safety.
"Matching funds" means funds that are allocated by the institution for a specific project for which grant funds are used, which are equal to 25 percent of the total cost of such project and which are generated from institutional sources, other grants, institutional borrowings, or other sources as permitted in the grant approval process. Notwithstanding anything in this definition to the contrary, grants from State government sources may not be used to satisfy the matching requirement in 9A:18-1.4(a)4.
"Project grant" or "grant" means a grant of monies from bonds issued under the Bond Act to fund a project approved pursuant to 9A:18-1.6 and for which a project-specific appropriation has been made.
N.J. Admin. Code § 9A:18-1.2