§ 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.

Terms Used In N.Y. Economic Development Law Law 237

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.