If the equipment turns out to be less expensive than the estimate provided to ARB, can the extra money be used to fund another project?
In the event that the equipment cost is less than what was originally quoted, the grantee may propose an additional project to expend the remaining funds. To propose another project the grantee must follow the same criteria that they used in the $25 million grant program. The deadline for ARB to approve these additional projects is December 31, 2008 with a grant award extension. Please submit the additional projects well before this deadline so that ARB staff can meet this deadline. If the grantee chooses not to fund an additional project, fails to propose an eligible project that meets the $25 million grant program criteria, or submits a late project, the remaining funds are returned to the general fund.
