9-12-1506. Limitations.
(a) No agreement under this article may fund more than fifty percent (50%) of the total cost of a project. At least ten percent (10%) of the project cost shall be matched in total by the governmental entity or governmental entities submitting the application. The council may reduce the minimum local governmental match based upon the merits of the project. Grant funds from other state or federal grant programs may be used to meet the fifty percent (50%) minimum matching requirement under this article, but shall not be used to provide the minimum match required of governmental entities under this subsection unless the council determines the governmental entity is unable to otherwise provide the match.
(b) No single project shall exceed five million dollars ($5,000,000.00) in funding provided under this article.
(c) The council shall, by rule, adopt provisions to ensure that adequate consideration is provided for the expenditure of public funds on projects funded under this article.
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