State grants-in-aid for demolition of unsafe structures; for urban beautification.

(b) The state, acting by and in the discretion of the Commissioner of Housing, may enter into a contract with a municipality for state financial assistance for programs of urban beautification; provided such program shall have been approved by the federal Department of Housing and Urban Development under the federal Housing and Urban Development Act of 1965, as amended. Such contract shall provide for state financial assistance in the form of a state grant-in-aid equal to one-half of the amount by which the net cost of the program as approved by the commissioner exceeds the federal grant-in-aid thereof. See Sec. 8-226 re use of prior bond proceeds for purposes of this section.