§ 2.213.070. Cap on total amount of grant awards.

Beginning with fiscal year 2017-2018, the annual amount of all grants awarded pursuant to this chapter including related administrative costs in the aggregate shall not exceed two million dollars exclusive of other grants or contributions made specifically for the purpose of funding the incentive grants. The aggregate grant amount may be increased by resolution of the metropolitan council. The amount budgeted annually will be based upon estimates of subsequent year awards and subject to the maximum set forth in this section. The director of finance and the director of the OEOE shall review the incentive grant program on an annual basis to determine whether the demand for grant funds significantly exceeds the amount of the cap, and shall make a recommendation to the metropolitan council regarding whether the amount of the cap should be adjusted. Any adjustments to the amount of the cap shall be approved by the metropolitan council by resolution prior to becoming effective.

(Amdt. 2 to Ord. BL2016-342 § 1, 2016; Amdt. 1 to Ord. BL2016-342 § 1, 2016; Ord. BL2016-342 § 1, 2016)