NJ ZIP pilot applications are rolling for both applicants and vendors. There is not a deadline for applying; the portal will remain open until all the voucher funds are reserved, on a first come, first served basis, with set asides by location, business type, and use case. If additional funds become available, the program may reopen or remain open. An applicant may apply for multiple vehicles within the same application. Voucher amounts are capped at 100% of vehicle cost. Applicants may not exceed $1.5 million in approved vouchers to ensure equitable distribution of resources.
Pilot Program Application Process
Vouchers will be issued and redeemed through six steps:
- Applicants selects an eligible Vendor and an eligible vehicle.
- Applicant and Vendor prepare and submit their respective separate applications, including proof of eligibility and application fee. If a Vendor has already been approved, the Vendor does not need to obtain a new approval unless there is a change from the prior Vendor application and approval.
- NJEDA processes the applications and, if the Applicant, Vendor and vehicle are eligible and funds are available, approves voucher(s), inclusive of qualifying bonuses and sends the Applicant a voucher reservation approval letter.
- The voucher funds are reserved for six months from the date of the approval letter. During this period, the vendor and the applicant must execute their respective program agreements and submit documentation of same. Then, the vehicle must be delivered to and registered by the Applicant during this period. A voucher reservation may be renewed for up to one twelve-month extension if requested prior to expiration and will be granted based on evidence by the Applicant and Vendor of good faith efforts to deliver and register vehicle within the additional time provided.
- Vehicle is delivered to and registered by the Applicant. Applicant submits documentation of this to NJEDA.
- Once vehicle is delivered and registered, and all relevant program agreements are met, Applicant will provide voucher to Vendor, who redeems the voucher funds from NJEDA.
- Applicant and Vendor will respond to NJEDA’s audit requests as need to confirm post-award compliance.