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<br />~ <br /> <br />.2- <br /> <br />The November 1998 staff recommendations for administration ofthe fund included: <br /> <br />. <br /> <br />. The grant amount should be limited to a maximwn of$5,000 per entity, <br />. The entity should contribute up to 50% of the total study cost. <br />. A plan of study prepared by the applicant and approved by the staff will be required <br />for each grant request. <br />. Only the CWCB Director's approval is required to approve grants from the fund. <br />. The staff will periodically advise the Board on the status of all grants, <br /> <br />Discussion <br /> <br />The attached policy addresses all of the original staff recommendations with two variations: <br /> <br />1) Since 1999, the Board has approved a very limited nwnber offeasibility study grants from <br />the fund for more than $5,000. These were special cases that the Board reviewed and approved the <br />expenditures from the fund, The proposed policy allows for grants exceeding $5,000 with Board <br />approval. <br /> <br />2) The policy does not address the periodic reporting to the Board of all expenditures from <br />the fund. However, when a loan is presented to the Board, it is typically stated in the loan board <br />memo whether the borrower received a small grant. Also, when the fund needs to be refreshed as . <br />part of the annual Construction Fund bill, as was the case last year, staff advises the Board of the <br />total expenditures from the fund and the necessary amount to refresh it back to $200,000. <br /> <br />The remainder of the policy addresses eligible study expenses and application procedures, <br />The policy states that approval of a grant is based on staffs professional opinion, This may seem <br />subjective, which it is, however there are too many variables involving project borrowers, types of <br />projects, and financial situations, that it is impossible to address a complete array of approval <br />criteria, By creating a relatively easy process for obtaining study funds motivates potential <br />borrowers to critically analyze possible projects they may not otherwise consider. <br /> <br />Recommendation <br /> <br />Staff recommends the Board consider approval of Financial Policy #17 - Application <br />Approval and Use of Grants from the Feasibility Study Small Grant Fund, <br /> <br />. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and lake Protection <br />Water Supply Protection. Conservation Planning <br />