N.Y. Comp. Codes R. & Regs. tit. 9 § 440.4

Current through Register Vol. 46, No. 25, June 18, 2024

Section 440.4 - Funding provisions

(a) Except for projects undertaken by the office at State historic properties, State assistance towards the cost of a project shall not exceed 50 percent of the approved project cost, provided however, in the case of a project located in an area which according to the most recent census data available has a poverty rate of at least 10 percent for the year to which the data relates, State assistance payments toward the cost of any such project shall in no event exceed 75 percent of the approved project cost.

(b) For determining the amount of State assistance available for the project, the cost of a project shall be the amount approved by the commissioner. The State shall not be responsible for any increases in the cost of the project.

(c) State assistance will be available on a reimbursement basis. Project sponsors shall submit periodic invoices and requests for payment as work is performed and costs incurred. The amount of each State assistance payment will be in the same proportion as the State assistance bears to total project cost.

(d) A project sponsor may request an advance payment in an amount not to exceed 25 percent of the total amount of State assistance for the project or the amount of match the project sponsor can document at the time of the request, whichever is smaller.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 440.4