Md. Code Regs. 15.01.20.08

Current through Register Vol. 52, No. 1, January 10, 2025

Section 15.01.20.08 - Distribution of Cost-Sharing Funds

A. The applicant who executes a cost-sharing agreement shall be paid in accordance with the following payment schedule:

(1) Upon receipt of all required construction permits, up to 25 percent of the estimated costs as outlined in the cost-sharing agreement;

(2) Upon commencement of construction, up to 50 percent of estimated costs as outlined in the cost-sharing agreement minus any payment made previously; and

(3) Upon completion of project and satisfactory final inspection, 87.5 percent of realized eligible costs minus any payments made previously.

B. Except for payments described in §A(1) and (2) of this regulation, the applicant shall document all eligible costs on an itemized statement. Each itemized cost shall be supported by payment receipts or unpaid invoices from vendors. Each receipt shall be signed by the person who executes a cost-sharing agreement and certified that each cost is true and correct to the best of that person's knowledge. Each payment receipt or unpaid invoice shall show the following:

(1) Vendor names;

(2) Type of material, labor, or equipment used on the project; and

(3) The unit cost paid for the item, the total amount paid to the vendor, and the date payment was received.

C. The applicant shall complete and submit to the Department a departmental claim for payment form for each scheduled payment outlined in §A of this regulation.

Md. Code Regs. 15.01.20.08

Regulation .08 adopted effective 50:7 Md. R. 302, eff. 4/17/2023