Section 218-RICR-70-00-12.4 - Allocation of Funds12.4.1Program Funding and Use of FundsA. The Program shall be funded from the proceeds of a general obligation bond issuance dedicated to this purpose and approved by voters at the March 2, 2021 Special Election in addition to any charitable contributions received by the Department as may occur. Program funds shall be used to pay for the following purposes: 1. Grants to Eligible Organizations pursuing Eligible Projects at eligible facilities.2. Technical assistance to Early Childhood Care and Education providers in matters related to capital planning for Eligible Projects and/or assistance with preparing Program applications.3. Costs associated with administration of the Program.12.4.2Funding for Eligible ProjectsA. For Eligible Projects involving improvements, Program funds will be available via a rolling application process and will be awarded in the form of a grant.B. For Eligible Projects involving the expansion of existing early learning facilities, Program funds will be made available through a Request for Proposals issued by the Department and will be awarded in the form of a grant.C. For Eligible Projects involving the development of new early learning facilities, Program funds will be made available through a Request for Proposals issued by the Department and will be awarded in the form of a grant.12.4.3Funding PrioritiesThe Program represents a limited resource with a large mandate. To ensure that resources are expended in the most efficient and manner that most positively impacts the intended beneficiaries, the Department will establish a list of Program funding priorities. These funding priorities may include, but are not limited to, the level to which the project improves access to Early Childhood Care and Education in underserved communities, space for infants/toddlers, commitment to serving families with public subsidy, evidence of matching funds, inclusion of businesses certified by the State Office of Diversity, Equity and Opportunity. These funding priorities will be published with each Request for Proposals (RFP) and will be factored in the assessment of applications.
12.4.4LeveragingA. Eligible Projects involving the Improvement of existing early learning facilities should leverage funds in addition to Program funds. Program funding shall be the minimum amount necessary for the feasibility of the Eligible Project proposed.B. Eligible Projects involving the expansion of existing early learning facilities and/or the creation of new early learning facilities must leverage funds in addition to Program funds. Priority will be given to proposals that leverage a diverse source of funds for project completion. Program funding shall be the minimum amount necessary for the feasibility of the Eligible Project proposed.12.4.5Disbursement of Award ProceedsFunding awarded under the Program shall be distributed on a reimbursable basis. The Department may, at its sole discretion, approve the earlier release of Program funds at the request of an awardee demonstrating financial need.
218 R.I. Code R. 218-RICR-70-00-12.4
Adopted effective 6/12/2022