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Redevelopment Grant Program

Redevelopment Grant Program. Implementation Workshop Spring 2010. Overview. Introductions Purpose Agenda Grant Agreements Payment Requests Annual Reports Monitoring and Closeout. Grant Agreements . Emailed after receipt of legal description for public portion of project

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Redevelopment Grant Program

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  1. Redevelopment Grant Program Implementation Workshop Spring 2010

  2. Overview • Introductions • Purpose • Agenda • Grant Agreements • Payment Requests • Annual Reports • Monitoring and Closeout

  3. Grant Agreements • Emailed after receipt of legal description for public portion of project • Should be signed and returned in a timely manner • Signatures should match authorized parties from resolution submitted with application • Examine your budget – it may be different from your application • Note all requirements from grant agreement

  4. Grant Agreement - Requirements • Matching funds requirement • At least 50% match • Annual report due date - July 25 • Contract start date and term end date • Eligible costs incurred up to 1 year prior to application date can be match • Redevelopment work must begin by start date listed in grant agreement • Private financing must be in place by December 31, 2010

  5. Grant Agreement - Requirements • Note Section 6.04 Requirements • Recorded Declaration • Publicly owned and used for a public purpose in perpetuity • Certified each year in annual report • Other general requirements, check with your legal counsel

  6. Grant Agreements - Amendments • Increase in grant amount • Supplemental award • Change in term end date • Extenuating circumstances only • Contract language changes

  7. Grant Agreements – Adjustments (GAN) • Change in budget line item (notify DEED of any significant monetary changes) • Reverting unspent funds • Change in grant status

  8. Grant Agreements – Status • Awarded • Closed Pending ___________ • Closed Pending Development • Closed

  9. PaymentRequests

  10. Payment Requests

  11. Payment Requests

  12. Payment Requests – Eligible costs • Eligible costs are the activities listed in the approved budget of the grant agreement • Eligible costs incurred within one year prior to application date can be included as match only • Eligible costs incurred after award date can be paid with grant funds

  13. Payment Requests –Ineligible Costs • Meals, excessive travel, hotel, incidentals • Program administration costs • “In-Kind” costs • Landscaping (seeding, sod, trees, etc.) • Development-related costs • Costs not supported by invoices • Costs incurred on private land

  14. Payment Requests – Supporting Invoices • Provide an outline of invoices that reflects budgeted line items with subtotals. • Include subcontractor invoices • Invoices must show dates that work was completed • Notify DEED of any significant monetary changes in budgeted line item(s)

  15. Payment Requests • Send requests to your project manager to expedite payment • Payments are made on a 2 week schedule • Payments are generally wired within a week of processing (once approved)

  16. Annual Reports • Purpose • Legislative requirements • Must be signed (certified) by Grantee • Due July 25, annually • Level of project completion dictates which sections of the report need submission • Report is simple, should not take too long

  17. Annual Reports

  18. Annual Reports

  19. Annual Reports

  20. Annual Reports

  21. Annual Reports

  22. Annual Reports • Submit until final development is complete and all final job, tax, and other benefits are reported

  23. Monitoring and Closeout • When does DEED monitor a project? • Who is involved in a monitoring visit? • What is inspected at a monitoring visit? • Grant Management • Financial Management • Project Progress

  24. Monitoring and Closeout – Grant Management • All correspondence relating to the grant must be on file, such as • Grant agreements and GANs • Annual Reports • Other pertinent documents and reports • Files should be well organized

  25. Monitoring and Closeout – Financial Management • Pay Request and backup documentation should be on file • Final budget numbers with sources identified • Tracking of all revenues and expenditures • Match requirements met • Approval/financial management process

  26. Monitoring and Closeout – Project Progress • Status of project and final development • Final jobs and other benefits #s if not previously reported • Site visit

  27. Monitoring and Closeout • Reports are submitted to Grantee within 45 days of monitoring visit • Negative findings may be issued, immediate response required • Reporting requirements remain in effect until project is closed • Grantee files must remain available for 6 years after file is closed

  28. General Grant Management • Project team: DEED as partner • Keep appropriate DEED staff informed throughout the project of any changes • Project schedule • Development changes • Budget changes • other

  29. Questions?

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