Funding Details

Outline the financial parameters of the grant program.

• Funding Mechanisms: Grant funds can come from a variety of sources, though most commonly those sources include, general fund allocations, tax increment financing (TIF), other grant programs, lodging tax, sales tax, specific fees, or even philanthropic/private donations.
• Grant Amounts: Specify the range of funding available per project and any maximum limits.
• Matching Requirements: Determine if matching funds are required from the applicant and the percentage.
• Disbursement: Specify if funds are disbursed upfront or on a reimbursement basis. 
  • If reimbursement, define the required documentation (e.g., receipts, completion verification like before and after pictures). 
  • If upfront, define the required agreements and steps necessary to pay out all or a portion of the grant dollars in advance to support a project's completion.
• Funding Availability: State that funding is contingent upon budgetary approval and may vary annually.
• Return of Funds: Specify the conditions under which grant funds may be required to be returned (e.g., business closure, project not completed within agreed timeline).