N.Y. Comp. Codes R. & Regs. tit. 9 § 1811.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 1811.2 - Net State aid

(a) Subsequent to approval by HUD of the certificate of completion and of gross and net project cost, the commissioner shall determine the net amount of State aid which the municipality or municipal urban renewal agency is entitled to in furtherance of the project pursuant to its contract with the State.

(b) In order to enable the commissioner to determine such amount, the municipality or municipal urban renewal agency shall submit such documentation as may be necessary in the discretion of the commissioner to adequately determine the difference between:

(1) the net amount of State aid which the municipality or municipal urban renewal agency is entitled to pursuant to its contract with the State in furtherance of the project; and

(2) the total advances previously made under such contract.

Such difference shall be known as the "Net State Financial Settlement".

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1811.2