N.Y. Comp. Codes R. & Regs. tit. 9 § 431.4

Current through Register Vol. 46, No. 51, December 18, 2024

Section 431.4 - Funding provisions

(a) State assistance towards the cost of a project shall not exceed 50 percent of the approved project cost. This limitation does not apply to municipal park projects for which a State agency, public benefit corporation or public authority is the project sponsor.

(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 the sponsor's match which can be documented at the time of the request, whichever is smaller.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 431.4