(a) These regulations set forth the framework for the administration by the New York State Urban Development Corporation (the Corporation) of the Regional Economic Development Partnership Program (together with all funds appropriated and reappropriated therefor, hereinafter referred to as the REDPP or the program) which is authorized by section 16-e of the New York State Urban Development Corporation Act. The REDPP is intended to provide coordinated and comprehensive economic development assistance tailored to the particular needs of eligible companies, industries and economic development regions throughout the State. The REDPP is further intended to promote the general welfare and prosperity of the State's citizens through a comprehensive effort to strengthen the State's economic future and to provide new economic opportunities for the State's citizens.

(b) The following types of assistance are available under the REDPP:

(c) The provisions of sections 10 and 16(2) of the New York State Urban Development Corporation Act shall not apply to any project or assistance funded through the REDPP.