§ 4-4-37-7 — Award of grants; maximum amount; agreement

(a) The office may award a grant to a person
who submits plans for the preservation or rehabilitation of historic
property and obtains the certifications required under section 8 of this
chapter.
(b) The maximum amount of a grant awarded under this section is
equal to fifty percent (50%) of the qualified expenditures, not to exceed
one hundred thousand dollars ($100,000), that:
(1) the person makes for the preservation or rehabilitation of
historic property; and
(2) are approved by the office.
(c) Each grant shall be made under a grant agreement by and
between the office and the person receiving the grant. The grant
agreement must include all of the following:
(1) A timeline for completing the project, including milestones
that the person commits to achieving by the time specified.
(2) The approved plans for the preservation or rehabilitation of
the historic property.
(3) The estimated cost of the preservation or rehabilitation of the
historic property and all sources of money for the project.
(4) The financing plan by the person proposing the project.
(5) The remedies available to the office if the grant is made and
the project does not substantially comply with the proposed plan
approved under this chapter.
(6) Any other terms or conditions the office considers appropriate.

Legislative History

As added by P.L.213-2015, SEC.39. Amended by P.L.202-2016, SEC.2; P.L.16-2019, SEC.2.