N.Y. Comp. Codes R. & Regs. tit. 9 § 6500.5

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

Section 6500.5 - Matching fund requirement

(a) The award recipient's match obligation is reflected in the schedule below:

(1) In year one of the award, for each dollar of State assistance payment made to the award recipient for a reimbursable expense, the award recipient is required to demonstrate one dollar of match.

(2) In year two of the award, for each dollar of State assistance payment made to the award recipient for a reimbursable expense, the recipient is required to demonstrate 1.25 dollars of match.

(3) In year three of the award, for each dollar of State assistance payment made to the award recipient for a reimbursable expense, the recipient is required to demonstrate 1.5 dollars of match.

(4) In year four of the award, for each dollar of State assistance payment made to the award recipient for a reimbursable expense, the recipient is required to demonstrate 1.75 dollars of match.

(5) In year five of the award, for each dollar of State assistance payment made to the award recipient, the recipient is required to demonstrate 2.0 dollars of match.

(b) Where the period of the award is less than five years, the match commitment will increase in accordance with the schedule set forth in subdivision (a) of this section until the end of the term. For example, the award recipient's match commitment in year three of a three year award would be in accordance with paragraph (a)(3) of this section--1.5 dollars of match for each dollar of State assistance.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 6500.5