4 Va. Admin. Code § 45-10-70

Current through Register Vol. 41, No. 10, December 30, 2024

Section 4VAC45-10-70 - Funds

The mandated features of this State matching grant program are:

1. The maximum amount of State grant funds that a locality may obtain is 30 percent of the amount appropriated to the public beach assistance fund for that year.

2. The State will provide the funds to localities on a 50-50 matching basis with either one lump sum or in successive fiscal year payments.

3. State funds may be combined with local funds to match Federal funds, provided the local amount is at least as much or more than one-half of the combined State and local share, and the conditions of items 1 and 2 are met.

For purposes of this program, revenue sharing funds received by localities shall be considered as local funds and may be used as the local share for meeting the above stated conditions. Other grants such as Coastal Plains Commission monies shall not be considered local funds.

For purposes of this program, the costs of engineering design work, construction performance and beach response monitoring, whether conducted by the locality itself or by a private firm under contract with the locality, may be included as part of the local match.

Payment may be requested in one initial payment or on fiscal year basis. Any residue funds at the end of the grant period will revert to the Commission. In any period in which funds are not appropriated by the General Assembly, multiple year grants will terminate without further obligation on the Commonwealth for funding.

4 Va. Admin. Code § 45-10-70

Derived from VR570-01-00, eff. March 1981; amended, eff. April 1, 1982.

Statutory Authority

Chapter 21, Title 10, Code of Virginia, 1950 as amended.