Disbursement of Funds

Disbursement of Funds. A. A grant agreement or loan documents will be executed between the local sponsor and MDA. All funds awarded must be spent for improvements within the scope of the original project description as stated in the grant or loan application. B. All funds will flow through the grant recipient. C. MDA will release DIP program funds for services rendered, or a reimbursement basis, for approved eligible cost of the project incurred. D. Grant recipients will have two (2) years from the date of the agreement to request reimbursement for DIP funds. Failure to implement and complete the project may result in the agreement being voided and funds de-obligated.