Matching Funds

Matching Funds. Each grant shall require a forty percent (40%) match, which may be provided by private sources and/or public sources. Of the forty percent (40%) match prescribed under this subsection, only one-half (1/2) of the match may derive from in-kind sources. Cash matches can include discounts of standard airport fees (such as a landing fee) or other cash contributions whether by the airport, another public source or private sources provided that the cash contributions are directly associated with the new air service or carrier directly related to new or additional air services that are subject of a grant. In-kind match sources include donated services or waived fees and may be taken from third party private or public sources; however, they must be verifiable and necessary and reasonable for proper and efficient recruitment of the new air service or carrier.