Section 54-1105. State assistance payments for coastal rehabilitation projects

1. The commissioner is authorized to provide on a  competitive  basis,
  within amounts appropriated, state assistance payments to a municipality
  or   a  not-for-profit  corporation  toward  the  cost  of  any  coastal
  rehabilitation project approved by the commissioner.
    2. The commissioner and a municipality or  not-for-profit  corporation
  may   enter   into   a   contract  for  the  undertaking  of  a  coastal
  rehabilitation  project.  Such  project  shall  be  recommended  to  the
  commissioner by the governing body of the municipality or not-for-profit
  corporation  as  that  term  is  defined  pursuant to subdivision six of
  section 54-0101, and when approved by the  commissioner,  undertaken  by
  the  municipality or not-for-profit corporation pursuant to this article
  and any other applicable provisions of law.
    3. State assistance payments shall not exceed  fifty  percent  of  the
  project  cost  or two million dollars, whichever is less. Such costs are
  subject to final computation and determination by the commissioner  upon
  completion  of  the  project,  and shall not exceed the maximum eligible
  cost set forth in the contract.
    4. Prior to processing  applications  for  state  assistance  payments
  toward  the  cost  of  coastal rehabilitation projects, the commissioner
  shall promulgate rules and regulations which shall include criteria  for
  determining  eligible  expenditures  and  procedures  for  governing the
  commitment and disbursement of funds  appropriated  in  accordance  with
  this title. The commissioner shall also promulgate rules and regulations
  which  shall  include  application  procedures,  review  processes,  and
  project  approval  guidelines  and  criteria  consistent  with   section
  54-1107.