§ 510. State capital grants. 1. In lieu of making or contracting to\nmake a loan or periodic subsidy, or both, pursuant to sections five\nhundred eight and five hundred nine of this article, the commissioner\nmay in the name of the state,\n (a) in the case of municipalities which have contracted with the\nfederal government for a capital grant (or for a loan and grant)\nsubsequent to the thirty-first day of December, nineteen hundred sixty,\nmake or contract to make, within appropriations therefor, a state\ncapital grant to such municipality to assist in carrying out one or more\nprograms of urban renewal; provided, however, that such state capital\ngrant may be made with respect to that part of any program which has\nbeen added, or with respect to which the federal capital grant, or loan\nand grant, has been increased, pursuant to a contract or contract\namendment entered into with the federal government, after such date;\n (b) in the case of municipalities which have not made application to\nor entered into a contract with the federal government for advances,\nloans or grant, with respect to a specific urban renewal project, make\nor contract to make a state capital grant, within appropriations\ntherefor, to such municipality to assist in meeting the cost of surveys\nand plans for such project and the administrative and other related\nexpenditures to be incurred in undertaking and completing such project.\n All contracts for such state capital grants shall be subject to\napproval by the state comptroller, and by the attorney general as to\nform. The commissioner may make advances or progress payments on account\nof any state capital grant contracted to be made pursuant to this\nsection and such advances or payments shall not constitute periodic\nsubsidies.\n 2. Any such state capital grant shall be in such amount, within\nappropriations therefor, as the commissioner, in his discretion, may\ndeem necessary to assist the municipality in discharging its obligations\nin connection with the program for which the grant shall be made;\nprovided, however, that no such grant shall exceed one-half of the net\ncost of such program to the municipality, exclusive of any federal aid\nor assistance, as such net costs shall be certified by the municipality\nand approved by the commissioner. If the municipality has not applied to\nor entered into a contract with the federal government for advances,\nloans or grants for a specific project, such grant shall not in any\nevent exceed five hundred thousand dollars ($500,000).\n 3. No municipality shall receive any such state capital grant until\n(a) the urban renewal plan has been approved by the governing body, (b)\nthe program set forth in such plan has been certified as eligible for\nfederal assistance by the appropriate federal agency, or the governing\nbody has found that such federal financial assistance is not necessary\nfor the undertaking and successful completion of the program set forth\nin such plan, and (c) the governing body and the comptroller, or in a\nmunicipality having no comptroller, the chief financial officer, have\nattached their separate approvals to the grant contract. The\ncommissioner may make temporary advances to such municipality in\nanticipation of any such grant.\n 4. Notwithstanding anything contained in this section or in section\nfive hundred thirteen of this article to the contrary, the commissioner\nmay in the name of the state, within appropriations heretofore or\nhereafter made for state capital grants to assist in carrying out one or\nmore local urban renewal programs, make or contract to make advances of\nfunds to municipalities, in anticipation of any such state capital\ngrant, to assist such municipalities in preparing preliminary economic\nand physical plans for relocation housing, regulated by law or contract\nas to rents, for persons and families to be displaced by the urban\nrenewal program whose housing needs cannot be met by the unaided\noper
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.