The cost of the program shall be borne according to the following formula:

(1)  In private complexes, twenty-five percent (25%) of the cost shall be absorbed by the state and seventy-five percent (75%) by the owner of the complex.

(2)  In public complexes, seventy-five percent (75%) of the cost shall be absorbed by the state and twenty-five percent (25%) by the housing authority. The cost upon which reimbursement is made shall be formulated in accordance with the rules and regulations promulgated by the director pursuant to § 42-66.1-5. Security personnel and equipment are reimbursable under this program. Costs incurred by a municipality or agency shall not be eligible for reimbursement pursuant to § 45-13-6 — § 45-13-11.