N.Y. Economic Development Law § 237: Matching funds for eligible applicants

§ 237. Matching funds for eligible applicants. 1. No matching funds

shall exceed the sum of two hundred fifty thousand dollars or fifty

percent of the total cost of implementation of the marketing plan,

whichever is less.

2. No more than ten percent of funds awarded shall be used for

administrative purposes, including salaries associated with implementing

a marketing program.

3. No matching funds shall be used for the direct benefit of a

for-profit business.