3 AAC 148.070. Match requirement

(a) In a grant under this chapter, the commissioner will provide no more than 75 percent of the total cost of a project if the recipient is a municipality, a tribal council, a regional development organization designated under 3 AAC 57, or a nonprofit corporation, and will provide no more than 50 percent of the total cost of a project if the applicant is a business as described in 3 AAC 148.020(a) (5). In the case of a grant to a municipality, a tribal council, a regional development organization designated under 3 AAC 57, or a nonprofit corporation the requirement for a direct match may be waived, in whole or in part, if the commissioner determines that the recipient's matching resources have been used to secure grant money from another source, and that the money from that other source will also be applied fully toward the same project.

(b) A recipient's share of the cost of a project may be met with cash, with direct and indirect payroll cost for personnel used in the project, with in-kind contributions, including the use of existing equipment, with borrowed money, with money contributed by another entity, or with revenue generated as part of the project.

(c) Indirect payroll costs under (b) of this section may not be calculated at a rate exceeding 19 percent of direct payroll expense. For purposes of this section, "indirect payroll costs" means those costs incurred for common or joint objectives that cannot be readily identified with activities carried out in support of a particular final objective.

(d) In-kind contributions under (b) of this section shall be valued according to industry standards for costs incurred in similar projects.

History: Eff. 4/8/2004, Register 170; am 8/11/2004, Register 171

Authority: AS 44.33.020

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