Section 261.28.8. Allocation of funds.

Latest version.

      28.8(1) IDED may retain up to 2½ percent of LHAP funds for administrative costs associated with program implementation and operation.
      28.8(2) LHAP awards shall be limited to no more than $500,000.
        a.         Recipients may use up to 5 percent of a total LHAP award for administrative costs.
        b.         IDED reserves the right to negotiate the amount and terms of an award and the amount of administrative costs proposed.
      28.8(3) If LHAP funds remain after awards are made under the annual competition, IDED may announce the availability of remaining funds and award remaining funds through another competition consistent with the application procedures described in this chapter.

                    
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