The purpose of this Part is to set forth the methods and procedures for implementing the Capital Initiative Program established under section 3.07 of the Arts and Cultural Affairs Law. Financial assistance shall be provided under the Capital Initiative Program for the improvement, expansion or rehabilitation of existing buildings for arts purposes. In addition, such modifications may increase or assure public access, may address known health or safety deficiencies, may provide for handicapped accessibility, or may address energy conservation measures or such other purposes which may reduce the organization's operating costs related to its building. Other substantive projects which are in keeping with the spirit and intent of the above-stated purposes may also receive financial assistance.