The power plant is part of a long history of harnessing the power of the Passaic River, an exercise that began in 1792. The power plant is a prominent historic resource of the historic park still in its original, industrial use. The building is a contributing element to the Great Falls Historic Landmark District, deemed of national significance.  The building is in poor condition, predominantly from maintenance focused on the machinery and extreme environmental conditions.

This grant will assist the preparation of a preservation plan and interpretive plan. The utility plans to make the building accessible for the public and interpret the plant as part of the Paterson Falls state park.