N.Y. Comp. Codes R. & Regs. tit. 9 § 2601.4

Current through Register Vol. 46, No. 53, December 31, 2024

Section 2601.4 - One-third match

(a) The applicant must demonstrate its access to matching support equal to at least one third of the funds requested.

(b) The required match may be cash and/or in-kind contributions, and must be used for neighborhood preservation activities.

(c)

(1) In-kind consists of goods and services provided to the applicant for which payment is not required. In-kind contributions must be verifiable, quantifiable, reasonable and relevant to the organization's neighborhood preservation activities.

(2) In-kind may not include:

(i) routine board functions and responsibilities; but may include, with DHCR approval, services from board members for which the organization ordinarily would have to pay;

(ii) overtime by executive and full-time administrative staff paid with NPC funds;

(iii) technical assistance provided by division staff; or

(iv) any other category determined by the division.

(d) Documentation of in-kind contributions must be available for review by division staff.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 2601.4