N.Y. Transportation Law § 425: Contracts for municipal transportation infrastructure renewal projects

§ 425. Contracts for municipal transportation infrastructure renewal

projects. Any such contract between the commissioner and a municipality

may include such provisions as may be agreed upon by the parties

thereto, and shall include, in substance, the following:

a. an estimate of the reasonable cost of the project as determined by

the commissioner;

b. an agreement by the commissioner to pay to the municipality during

the progress of construction or following completion of construction as

may be agreed upon by the parties, an amount, not to exceed the total

cost of the project or such lesser amount as may have been established

pursuant to section four hundred twenty-four of this article;

c. an agreement by the municipality:

(i) to proceed expeditiously with and complete the project as approved

by the commissioner,

(ii) to apply for and/or make reasonable efforts to secure federal

assistance, if any, for the project,

(iii) to secure the approval of the commissioner before applying for

such federal assistance, in order to maximize the amounts of such

assistance received or to be received for all projects in New York

state,

(iv) to provide for the municipality's share of the cost of the

project when such municipality's share is required by the appropriation

therefor,

(v) to maintain the project at its own expense in accordance with the

requirements of the commissioner for the period of time corresponding to

the period of useful life for such project as determined by reference to

section sixty-one of the state finance law; and

d. a provision that, in the event that federal assistance which was

not included in the calculation of the state payment becomes available

to the municipality, the amount of the state payment shall be

recalculated with the inclusion of such federal assistance and the

municipality shall pay to the state the amount by which the state

payment actually made exceeds the state payment determined by the

recalculation.