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.

History: Eff. 2/3/85, Register 93

Authority: AS 27.05.010

AS 46.03.020 (10)

AS 46.16.060

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