5 CRR-NY 60.3NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 5. DEPARTMENT OF ECONOMIC DEVELOPMENT
CHAPTER VII. INDUSTRIAL INFRASTRUCTURE DEVELOPMENT PROGRAM
PART 60. THE APPLICATION PROCESS
5 CRR-NY 60.3
5 CRR-NY 60.3
60.3 Eligible and ineligible costs.
(a) The following costs are eligible for funding under this program:
(1) industrial infrastructure development project design costs;
(2) costs for completing and updating plans, specifications and estimates, where preliminary engineering or related planning has already been undertaken, and where additional engineering work or related planning is required to permit construction of the industrial infrastructure development project;
(3) costs associated with standard construction activities which are reasonable costs of construction work performed under contract; and
(4) costs for acquisition of real property.
(b) The following costs are ineligible for funding under this program:
(1) expenses or other engineering costs incurred prior to the industrial infrastructure development project initiation, related to administration, planning or estimates;
(2) any expense required to carry out the overall responsibilities of the eligible applicant, such as administrative costs; and
(3) municipal personal services costs of a regular and recurring nature.
(c) For any single industrial infrastructure development project, costs shall not exceed $250,000 of the State funds appropriated for this program, and the length of the loan shall not exceed the useful life of the eligible project. Loans shall be secured by fixed assets, wherever possible.
5 CRR-NY 60.3
Current through October 15, 2021
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