918 - Financial assistance. - New York Statutes

§ 918. Financial assistance. 1. The secretary may enter into a contract or contracts for grants to be made, within the limits of any appropriations therefor, for the following: a. To any local governments, or to two or more local governments, for projects approved by the secretary which lead to preparation of a waterfront revitalization program; provided, however, that such grants shall not exceed fifty percent of the approved cost of such projects; b. To any local government or local government agency for research, design, and other activities which serve to facilitate construction projects provided for in an approved waterfront revitalization program; provided, however, that such grants shall not exceed ten percent of the estimated cost of such construction project. 2. Funds available for the purposes of this section shall be allocated in a fair and equitable manner; such allocation shall reflect the initiative shown by local governments in preparing waterfront revitalization programs and in carrying them out.