§650.90. General Terms and Conditions of Grant Awards

a)         A grant award may be used for stabilization purposes by a grantee.  The grantee shall not use the grant award for any prohibited use as set forth in the Grant Funds Recovery Act [30 ILCS 705/4.3].  The State Treasurer may, in its discretion, limit the use of a grant award to a particular program or purpose.

 

b)         The final dollar amount of a grant award shall be in the discretion of the State Treasurer, but the dollar amount in any calendar year may not exceed $25,000 per grantee.

 

c)         Unless otherwise specified, grant awards shall be made in a lump sum payable to the grantee upon the effective date of a Grant Agreement.

 

d)         Unless otherwise specified, the term of any grant award shall be for one year, with grant funds to be expended by a grantee within one calendar year after the effective date of the Grant Agreement.

 

e)         Unless otherwise specified, the grant award shall be non-renewable, but a grantee may submit a new application for a grant award in a second consecutive calendar year.  A grantee may not receive a grant award in more than two consecutive calendar years.

 

f)         All grants awarded under this Part are subject to and shall comply with the Grant Funds Recovery Act [30 ILCS 705].