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(a) If the authority awards a grant to an applicant under 3 AAC 107.340(d) , the applicant must enter into a grant agreement with the authority within 60 days after receiving notice from the authority that the applicant has been awarded the grant. If the applicant fails to enter into the grant agreement within the 60 days, the applicant forfeits the right to receive the grant. If the authority determines that failure to timely enter into a grant agreement is caused by actions of the authority, the director may extend the time to enter into the grant agreement.
(b) The authority shall prepare the grant agreement required by (a) of this section and other appropriate documentation to reflect the terms of the grant and to provide for other matters the authority considers appropriate in connection with the grant. The authority may not disburse proceeds of the grant to a successful applicant until the applicant has entered into the grant agreement with the authority and has executed any other documents required under this section. Unless waived by the authority, the grant agreement will include the following:
(1) a statement of the intended use of the grant proceeds, specifying how the proceeds will be used in connection with the purposes of the fund;
(2) a budget description in detail appropriate to the scope of the project;
(3) a timetable listing the steps considered necessary for the timely completion of the project and listing the schedule for the disbursement of grant proceeds;
(4) a provision for the administration of the grant proceeds according to generally accepted financial accounting procedures, for regular periodic reporting to the authority of grant-financed activities, and for the disposition of grant proceeds in accordance with intended use;
(5) provisions for the termination or suspension of grant disbursements and for termination of the grant agreement, including a statement of the provisions in 3 AAC 107.400;
(6) a provision acknowledging that all grant proceeds, until they are spent for the purposes of the grant and in accordance with the grant agreement, remain the property of the state and, if not expended for the purposes of the grant and in accordance with the grant agreement, will be returned to the authority within 30 days after the final date on which the grant proceeds were scheduled to be spent under the terms of the grant agreement;
(7) a statement acknowledging that the applicant and its employees, agents, and advisors, and not the authority, are responsible for obtaining necessary licenses and permits, if any, for ensuring that all aspects of the project comply with all applicable statutes, regulations, ordinances, and codes, and for all costs of the project in excess of the amount of the approved grant;
(8) a promise to defend and hold harmless, and to require all contractors and subcontractors to hold harmless, the authority from any action arising from a determination not to award a subsequent grant under 3 AAC 107.300 - 3 AAC 107.430;
(9) a requirement that the grant recipient submit to the authority plans and specifications for the recipient's project within 90 days after entering into the grant agreement;
(10) a requirement that the grant recipient obtain all necessary permits for the project within eight months after entering into the grant agreement;
(11) a requirement that the grant recipient complete all field construction work for the project within 18 months after entering into the grant agreement; and
(12) a provision stating that the applicant agrees to the inspection, audit, and examination provisions in 3 AAC 107.380.
History: Eff. 6/29/94, Register 131; am 11/25/94, Register 132
Authority: AS 42.45.100
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Last modified 7/05/2006