870 R.I. Code R. 870-RICR-20-00-3.9

Current through December 3, 2024

Section 870-RICR-20-00-3.9 - Grant Agreement

A. Upon approval of a Grant for an Applicant, the Corporation and the Applicant will enter into a Grant Agreement before any Grant amount can be provided to the Applicant. The Corporation, in its sole discretion, may cancel an approval if mutually agreeable terms cannot be met within 30 days of notification of the approval.

B. In order to safeguard the expenditure of public funds and ensure that the disbursement of funds further the objectives of the Act, the Grant Agreement shall include, among others, the following terms;

1. the maximum Grant amount;

2. a description of the Project and a requirement that the Grant can only be used for work outlined in that description;

3. a provision that grant payments shall be made in installments upon the completion of specific milestones and the Corporation's receipt of evidence demonstrating that such milestones have been achieved and, if applicable, evidence of actual Project costs;

4. a requirement that the Project be completed within a specified timeframe;

5. an indemnification provision;

6. reporting and program evaluation requirements;

7. a provision prohibiting transfer of the Grant; and

8. any other provisions that the Corporation determines are appropriate.

870 R.I. Code R. 870-RICR-20-00-3.9