QUESTION
What are the stipulations for grant usage and is there an option for multiple applications within a year?
0:47:21
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58 sec
Business Improvement Districts (BIDs) have one opportunity annually to apply for grants, which must align with Neighborhood 360 rules.
- Grants operate on a fiscal year basis, permitting only a single application annually.
- Funding must adhere to Neighborhood 360's rules, outlining allowable and disallowable expenses.
- In case of changes to the initial proposal, a budget modification process is available.
- The Department's team assists BIDs in reallocating awarded funds as necessary.
Oswald Feliz
0:47:21
What are stipulations on how this funding could be used and also kind of small bit applied twice a year for that grant if they have 2 different initiatives.
0:47:30
One that they think about after they submitted the initial application.
Calvin T. Brown
0:47:33
So so the way that our grants work is on the the fiscal year, so there's only one opportunity to apply at the beginning, but we made sure that it was ample enough time for all bids who were eligible to apply.
0:47:45
So you would only have one opportunity to apply for the grant.
0:47:49
And the grants did have to follow what we call the neighborhood 360 rules.
0:47:53
So there's certain limitations or what is allowable and disallowable in terms of their budget in in terms of what they were able to use the funding.
0:48:03
Now if they had any changes to what they originally proposed to us, we did allow an opportunity for budget modification.
0:48:10
And once again, that's where my team will work with them to, you know, understand what they needed to change and how they need to reallocate it funding that was awarded to them.