H.R.3498 - Great Falls Preservation and Redevelopment Act of 1994103rd Congress (1993-1994)
Summary: H.R.3498 — 103rd Congress (1993-1994)
Reported to Senate amended (09/27/1994)
Great Falls Preservation and Redevelopment Act of 1994 - Establishes the Great Falls Historic District in Paterson, New Jersey, to be administered by the Secretary of the Interior.
Authorizes the Secretary to enter into cooperative agreements with: (1) State or local government agencies or nonprofit entities to prepare a plan for the development of historic, architectural, natural, cultural, and interpretative resources within the District and to implement projects approved by the Secretary pursuant to the plan; and (2) property owners for the preservation and interpretation of properties of historical or cultural significance.
Requires applications for funds for capital projects and improvements to be submitted to the Secretary and to include a description of how the project will further the purposes of the District. Subjects such payments to an agreement that conversion, use, or disposal of such project for purposes contrary to this Act shall result in a right of the United States of reimbursement of all funds made available to such project or the proportion of the increased value of the project attributable to such funds as determined at the time of such conversion, use, or disposal, whichever is greater.
Authorizes appropriations. Prohibits funds made available for capital projects and planning from exceeding 50 percent of the total costs of the project to be funded. Terminates the authority to expend funds under this Act five years after the date of its enactment.