13 CFR 308.1 - Use of funds in Projects constructed under projected cost.
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(a) If the Assistant Secretary determines before closeout of a construction Project funded underparts 305 or 307 of this chapter that the cost of the Project, based on the designs and specifications that were the basis of the Investment Assistance, has decreased because of a decrease in costs, EDA may in its discretion approve the use of the excess funds (or a portion of the excess funds) by the Recipient to:
(1) Increase the Investment Rate of the Project to the maximum percentage allowable under§ 301.4 of this chapter for which the Project was eligible at the time of the Investment award; or
(b) EDA, in its sole discretion, may use any amount of excess funds remaining after application of paragraph (a) of this section for other eligible Investments.
Title 13 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 13 CFR Part 308.