[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR305.24]

[Page 557]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 305--GRANTS FOR PUBLIC WORKS AND DEVELOPMENT FACILITIES--Table of Contents
 
              Subpart B--Requirements for Approved Projects
 
Sec. 305.24  Disbursements of funds for grants.

    (a) Disbursements of funds for construction grants are generally 
made on a reimbursable basis on request of the recipient for 
reimbursement. Disbursements may be made only:
    (1) After execution of all contracts required for the completion of 
the project. This condition may be waived by EDA if the grantee can 
demonstrate that enforcement of the condition would place an undue 
burden on it;
    (2) For itemized and certified eligible costs incurred, as 
substantiated by such documentary evidence as EDA may require;
    (3) On the basis of the work accomplished and the percentage of EDA 
participation, but in no event for more than the total sum stated in the 
financial assistance award accepted by the grantee;
    (4) Upon such evidence as EDA may require that grantee's 
proportionate share of funds not yet expended is on deposit;
    (5) After a determination by EDA that all applicable terms and 
conditions of the grant have been met; and
    (6) After meeting such other requirements as EDA may establish in 
accordance with other Federal laws, rules and regulations.
    (b) Disbursements are generally made in installments, based upon 
grantee's actual rate of disbursement in accordance with the grant rate.
    (c) Advances of funds are allowable when disbursement on a 
reimbursable basis would impose an undue burden, as determined by EDA, 
upon the recipient.

[64 FR 5358, Feb. 3, 1999. Redesignated and amended at 64 FR 69875, 
69877, Dec. 14, 1999]

[[Page 558]]