Each subrecipient of ESG program funds must provide matching
contributions, according to the requirements of each competition. In
calculating the amount of matching funds, the following may be included: cash
contributions expended for allowable costs of the subrecipient for the ESG
program or noncash contributions, including the value of any real property,
equipment, goods, or services contributed to the subrecipient's ESG program
provided that, if the subrecipient had to pay for them with grant funds, the
costs would have been allowable. IFA may allow an exemption of matching funds
up to a maximum of $100,000 of the state allocation received from HUD for the
subrecipients least capable of providing such matching amounts. The
subrecipient must document its need to participate in this exemption from
matching requirements and must receive prior approval from IFA before the
exemption will be effective.
Notes
Iowa Admin. Code
r. 265-42.8
ARC 9166B, lAB 10/20/10,
effective 10/1/10; ARC 9282B, lAB 12/15/10, effective 1/19/11; ARC 0186C, lAB
6/27/12, effective 8/1/12
Amended by
IAB
October 25, 2017/Volume XL, Number 9, effective
11/29/2017
