Illinois Administrative Code
Title 14 - COMMERCE
Part 510 - ILLINOIS PROMOTION ACT PROGRAMS
Subpart D - TOURISM PRIVATE SECTOR GRANT PROGRAM
Section 510.350 - Matching Funds
Universal Citation: 14 IL Admin Code ยง 510.350
Current through Register Vol. 48, No. 12, March 22, 2024
a) The Grantee shall provide Matching Funds to the Total Project Cost that:
1) Are identified in the budget of the Grant
Agreement;
2) In no case shall be
less than an amount equal to the grant award;
3) Are not other government funds or funds
used to match any other grants; and
4) Are necessary and irrevocably obligated to
the Project.
b) Allowable Match
1) Private Sector funds -
Grant funds must be matched with dollar-for-dollar cash funding from the
Private Sector.
2) Up to 25 percent
of the amount required in subsection (b)(1) may be substituted with In Kind
Contributions from the Private Sector for which the value is easily documented,
such as hotel services and transportation company services.
c) Unallowable match includes:
1) Costs incurred or funds expended prior to
the date of the grant award, unless those costs are approved by the Department
as being otherwise compliant with the provisions of this Part and consistent
with the purposes of the Act;
2)
Post-Project costs not identified in the budget of the Grant
Agreement;
3) Funds from sources
other than the Private Sector (although they may be used to further the
Project);
4) Funds used as match
for other grant programs; and
5)
Normal operational expenses such as payroll costs, office and equipment rental,
utilities, etc.
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