1. (a) As a condition for a grant under AS 42.45.045 and 3 AAC 107.600 - 3 AAC 107.695, the applicant must sign a grant agreement that the authority prepares and that contains the terms and conditions of the grant, including

   1. (1) a description of the project to be financed with the grant;

   2. (2) a project schedule; the authority may make one or more disbursements of grant money conditional upon

      1. (A) completion and approval by the authority of pre-construction phases of the project;
      2. (B) the grantee demonstrating that it has site control for the project;
      3. (C) the grantee demonstrating that it has one or more permits or authorizations required for construction of the project;
      4. (D) the grantee's successful completion of other activities or objectives set under the project schedule;
   3. (3) requirements for project management;
   4. (4) a description of allowable costs;
   5. (5) requirements for the documentation of expenditures and procurements;
   6. (6) procedures for making grant payments to the grantee;
   7. (7) requirements for the grantee's accounting and reporting;
   8. (8) requirements for the grantee's maintenance and retention of project records;
   9. (9) hiring preferences applicable under AS 36.10.150 - 36.10.180 and 8 AAC 30.064 - 8 AAC 30.088 to the grantee and its agents, contractors, and subcontractors;
   10. (10) procedures for verifying the provision of the grantee's matching resources to the project; and
   11. (11) other terms and conditions that the authority determines are appropriate to ensure the public purpose of and maximize the public benefit from the grant.
2. (b) If an applicant fails to execute the grant agreement within 30 days after receiving it from the authority, the authority may cancel a notice of intent to award the grant and may offer the grant money to another eligible applicant, subject to appropriation and approval by the legislature.

(Eff. 10/16/2009, Register 192)

Authority: AS 42.45.045, AS 44.83.080