OAR 695-046-0215. Director’s Funding Approval and Distribution of Funds

(1) The Director may approve the distribution of grant funds when: (a) A Grant Agreement is executed by the Director and the grant applicant; (b) The funding conditions, if any, imposed by the Board and Director are met to the full satisfaction of the Director; (c) The legal and financial terms of the proposed Water Acquisition Project transaction are approved by the Director; (d) The Director has reconciled conditionally approved funding with actual Water Acquisition Project costs; and (e) The grant applicant has satisfied the Match requirements under OAR 695-046-0190 and OAR 695-005-0030(2). (2) For grants established under these rules, the Director is authorized to reimburse the grant applicant for allowable costs identified in OAR 695-046-0185 and to recognize matching contributions under OAR 695-046-0190 that were incurred no earlier than 18 months before the applicable grant application deadline. (3) Notwithstanding OAR 659-046-0215(1), funds may be distributed prior to Water Acquisition Project transaction closing for eligible activities specified in OAR 659-046-0185 and included in the application budget.