Grant Awards

(1) Execution. The Grant Award shall be deemed awarded when the Department and the Grantee execute the Grant Agreement. Until that time, the award is conditional. (2) Amount of Award. The amount of the Grant Award will be incorporated into the Grant Agreement. The Department shall determine the amount of the grant to Eligible Businesses based on the following factors including, but not limited to: (a) the difference between market prices or price quotations for virgin feedstock materials and the price paid for Designated Feedstock Materials by an Eligible Business in the Manufacturing Process in the Commonwealth; (b) the amount ofDesignated Feedstock Material to be sold by the Eligible Business engaged in the Reclaiming Process in the Commonwealth; (c) the amount of Designated Feedstock Material used by the Eligible Business engaged in the Manufacturing Process in the Commonwealth; and, (d) the market history and price fluctuations of materials. The Department shall provide grant funds ofup to $250,000 and may make periodic adjustments, as deemed necessary, to this amount based on market conditions. (3) Project Scope. The funded activities shall be based on the scope provided in the Grant Application and finalized in the Grant Agreement. (4) Payment Process. The Grantee shall submit itemized invoices detailing the use of the grant funds in accordance with the Grant Agreement. The invoice may include written information, either as part of the invoice or attached by the Grantee, for the Department to determine that the costs are eligible under the Grant Agreement.