OAR 695-045-0195
Director Funding Approval and Distribution of Funds

(1) The Director may approve the distribution of grant funds when:
(a) The funding conditions, if any, imposed by the Board are satisfied to the full satisfaction of the Director;
(b) The legal and financial terms of the proposed real estate transaction are approved by the Director;
(c) The title restrictions required under ORS 541.960 (Title restrictions on land purchased through grant agreement) are approved by the Director;
(d) A grant agreement is executed by the Director and the grant applicant;
(e) The Director has reconciled conditionally approved funding with actual Project costs; and
(f) The grant applicant has satisfied the match requirements under OAR 695-045-0175 (Matching Contributions) and OAR 695-005-0060 (Distribution of Funds)(2).
(2) For grants established under these rules the Director is authorized to reimburse the grant applicant for allowable costs identified in OAR 695-045-0170 (Use of Grant Funds) and to recognize matching contributions under OAR 695-045-0175 (Matching Contributions) that were incurred no earlier than 18 months before the applicable grant application deadline.
(3) Notwithstanding OAR 695-045-0195 (Director Funding Approval and Distribution of Funds)(1)(a), funds may be distributed prior to transaction closing for due diligence activities specified in OAR 695-045-0170 (Use of Grant Funds)(4) and included in the application budget.

Source: Rule 695-045-0195 — Director Funding Approval and Distribution of Funds, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=695-045-0195.

Last Updated

Jun. 8, 2021

Rule 695-045-0195’s source at or​.us