(a) Funds commitment. Once approved by the governing board for an award, program money becomes committed to the awardee subject to the availability of funds.
- (1) If the Commission determines that a qualified Defense Economic Adjustment Assistance Grant Program awardee proposal has been rejected by the federal agency or other financial partners, the commitment of funding previously committed will be withdrawn and the funding amount re-allocated to other applicants. The awardee will be given 30 days to renegotiate financial arrangements prior to withdrawal of the state program commitment.
- (2) If the Commission has determined that an awardee has secured final approval from federal agencies and other financial partners, program funds will be committed to the awardee, subject to availability of funds.
- (3) If the only partner in the project is the local governmental entity, funds will be committed to the entity upon final approval and encumbrance of funds by the awardee.
- (b) Non-availability of funds. The Commission expects that availability of program funds will decrease significantly as the state funding biennium progresses. When all monies appropriated by the Texas Legislature to the Commission for a funding biennium have been committed to qualified awardees, remaining applicants shall be notified that funds are no longer available.
- (c) The Commission may offer less funding than is requested by the applicant.
Source Note:The provisions of this §4.37 adopted to be effective November 25, 2009, 34 TexReg 8311.