c) Grant funds may not be expended except pursuant to a written grant agreement, and the disbursement of grant funds without a grant agreement is prohibited. At a minimum, a grant agreement shall:

1. 1) Contain demonstrable milestones on the development of the equity plan as submitted by the institution as part of its application and as contemplated by the Board of Higher Education Act (see 110 ILCS 205/9.16 and 44 Ill. Admin. Code 7000.370(a)(7));
2. 2) Contain a provision that the grantee agrees to comply with the provisions of the Business Enterprise for Minorities, Women, and Persons with Disabilities Act [30 ILCS 575] and the equal employment practices of Section 2-105 of the Illinois Human Rights Act [775 ILCS 5]. (Section 45 of the State Finance Act [30 ILCS 105]);

3) Specify the grant period;

1. 4) Contain a provision that the grantee will comply with all requirements of the Illinois Works Apprenticeship Initiative for any project estimated to cost over $500,000, subject to the exceptions in Section 20-20 of the Illinois Works Jobs Program Act [30 ILCS 559]; and
2. 5) Contain a provision that if, within 10 years after the completion of any capital project for which a grant was made under this program, the property ceases to meet the nonsectarian requirements of a capital project as defined in this Part or the institution ceases to be an independent college as defined in the Act and this Part, the grantee shall refund to the State an amount determined as follows. Grant Funds Used for Project ($)/120 (months) x Duration of Noncompliance (months) = Required Refund ($). For purposes of this formula, the grant agreement shall define the scope of the project upon which the refund is required.
3. d) The Board shall withhold or suspend the distribution of grant funds for failure to file required reports as specified in the GATA grant agreement.