In administering the provisions of this article, the commissioner:

1. shall make an itemized estimate of funds or appropriations required annually for inclusion in the executive budget.

2. may in the name of the state as further provided within this article contract to make, within the limitations of appropriations available therefor, a state grant for payment to a municipality representing the state share of the cost of a project approved and to be undertaken pursuant to this article. Such contracts shall be subject to approval by the state comptroller and as to form by the attorney general.

3. shall approve vouchers for the payment of local assistance pursuant to an approved contract. All such payments shall be paid on the audit and warrant of the state comptroller.

4. may perform such other and further acts and promulgate such rules and regulations as may be necessary, proper or desirable to carry out the provisions of this article.