15 CAR § 141-105 – Grant agreements

(a)
1. (1) Arkansas Small Business Innovation Research Matching Grant Program grants may be awarded, pending availability of funds, at the discretion of the Director of the Arkansas Economic Development Commission.
2. (2) Grant agreements shall specify:
  1. (A) The eligibility date for incurring project costs;
  2. (B) Terms and conditions of the grant;
  3. (C) The amount of approved costs; and
  4. (D) The process by which grant funds shall be invoiced and disbursed to the grantee.
(b) The amount of the grant shall be discretionary and may be for amounts less than requested.
(c) Grants may be funded from any source of funds allocated to the program.
(d) Grants will be executed according to the following process:
1. (1) Two (2) original copies of the grant agreement will be prepared by the Director of the Division of Science and Technology of the Arkansas Economic Development Commission and forwarded to the grantee for signature and return;
2. (2) Upon receipt of the signed grant agreements from the grantee, the Director of the Division of Science and Technology will prepare an approval letter and forward the grant agreements and the approval letter to the Director of the Arkansas Economic Development Commission for signature; and
3. (3)
  1. (A) One (1) original copy of the grant agreement will be forwarded to the grantee with the signed approval letter.
  2. (B) One (1) original copy of the grant agreement will be retained by the Director of the Division of Science and Technology.
(e) Grantees shall not receive more than three (3) matching grants under this program.
(f) Any material change to the scope of the project, including changes to the principal investigator/project manager, is subject to prior approval by the Director of the Arkansas Economic Development Commission.