18 AAC 71.080 - Grant payments
(a) Upon approval of initial project plans and
reports, and a showing that all applicable permits and approvals have been
received or applied for, the department will pay out 45 percent of the total
grant amount to the grantee.
(b) Upon
completion of 50 percent of the project, as defined in the grant terms and
conditions, up to another 35 percent of the total grant award will be paid
out.
(c) Upon department
certification that the grantee has completed the project and filed all required
reports and records, the department will pay out up to an additional 15 percent
of the total grant amount.
(d) Upon
review and acceptance of the audit report, the department will pay out any
remaining grant money due the grantee.
(e) Under no circumstances will the final grant
total exceed the initial grant award or the final audited project cost.
Notes
Authority:AS 27.05.010
AS 46.03.020(10)
AS 46.16.060
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