|
Matching Requirements
Required funding participation by the project sponsor is known as the "match." Match activities must be directly related to the proposed Transportation Enhancement Program project.
Fifty percent of project costs must be the "match"
The project sponsor must provide a minimum of 50 percent of the funding for those portions of the overall project that qualify for funding.
Example:
If the portion that qualifies for funding is estimated to be $100,000, the project sponsor can be awarded $50,000. If the actual bid is $60,000, the award would be reduce to $30,000 and the sponsor's required match will be lowered to $30,000.
Twenty percent of project construction costs must be "cash match"
The project sponsor's match must include cash equal to 20 percent of the actual costs of the project portion receiving Transportation Enhancement Program funds.
Example:
If the award is $50,000, there must be at least $10,000 cash from the project sponsor toward actual construction costs. If a $100,000 project is reduced to $60,000 actual cost, the award is reduced to $30,000 and the 20 percent match becomes $6,000.
Property Acquisition as match
Property acquisition costs undertaken as part of the current project within the two years prior to project proposal submission may be used as part of the match.
Activities not Eligible
The following activities are not eligible for Transportation Enhancement Program reimbursement or to be used as match.
- Property acquisitions made more than two years prior to project proposal submission
- Adjacent past, current, or future activities.
- Any other funding provided by MDOT and USDOT for the proposed activity or associated activities is not eligible to be considered as match for Transportation Enhancement Program projects, or vice versa.
Table of Contents
|
