176.247 Local matching funds requirement -- Amounts required.

274 words·~1 min read·/ky/chapter-176/176-247

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The cabinet shall use the county population ranking produced every two

(2)years

by the Cabinet for Economic Development to determine the amount of local

matching funds required for grants awarded from the LARP.

(2)The required local match for a project receiving funds from the LARP for projects

awarded in the next regular session of the General Assembly shall be as follows:

(a)Eligible projects in counties where the county population ranking is equal to

or greater than one hundred ninety-three

(193)shall provide local matching

funds equal to ten percent (10%) of the project cost;

(b)Eligible projects in counties where the county population ranking is less than

one hundred ninety-three

(193)but equal to or greater than one hundred forty-

five

(145)shall provide local matching funds equal to twelve and one-half

percent (12.5%) of the project cost;

(c)Eligible projects in counties where the county population ranking is less than

one hundred forty-five

(145)but equal to or greater than ninety-seven

shall provide local matching funds equal to fifteen percent (15%) of the

project cost;

(d)Eligible projects in counties where the county population ranking is less than

ninety-seven

(97)but equal to or greater than forty-nine

(49)shall provide

local matching funds equal to seventeen and one-half percent (17.5%) of the

project cost; and

(e)Eligible projects in counties where the county population ranking is less than

forty-nine

(49)shall provide local matching funds equal to twenty percent

(20%) of the project cost.

(3)A city or county may use funds received under KRS 177.320(2) and 177.365 to

provide local matching funds for projects in the LARP.