2020 New York Laws
TRA - Transportation
Article 22 - Implementation of the Rebuild and Renew New York Transportation Bond Act of 2005
485 - Contracts for Municipal Transportation Infrastructure Projects.

§ 485. Contracts for municipal transportation infrastructure 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:
  1.  an estimate of the reasonable cost of the project as determined by
the commissioner;
  2. an agreement by the commissioner to pay to the municipality  during
the  progress of construction or following completion of construction an
amount as may be agreed upon by the parties;
  3. an agreement by the municipality:
  (a) to proceed expeditiously with and complete the project as approved
by the commissioner,
  (b) to apply for and/or make  reasonable  efforts  to  secure  federal
assistance, if any, for the project,
  (c)  to  provide  for  the  municipality's  share  of  the cost of the
project, if any,
  (d) 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
  4.  a  provision  that, in the event that federal assistance which was
not included in  the  calculation  of  the  state  financial  assistance
becomes available to the municipality, the amount of the state financial
assistance  shall  be  recalculated  by reducing the amount of the state
financial assistance by the amount of such federal assistance,  and  the
municipality  shall  pay  to  the  state  the  amount by which the state
payment actually made exceeds the state financial assistance  determined
by the recalculation, if any.