Laserfiche WebLink
<br />32 <br /> <br />CONSTRUCTION ADVANCE <br />Payment Type When to <br />Request <br />Documents to <br />Send to PROJECT OFFICER <br />ADVANCE(s) up <br />to 50% of <br />PROJECT <br />amount <br />After the GRANT <br />CONTRACT has <br />been <br />ENCUMBERED, <br />and construction <br />will commence <br />during the next <br />six months <br />• Payment Request Form <br />• ADVANCE justification (see below) <br />• Copy of signed construction contract and a notice <br />to proceed or IN-HOUSE EMPLOYEE SERVICES labor <br />schedule. <br /> <br />Advance Justification <br />An ADVANCE justification is required for an ADVANCE. It must provide the following information: <br />• Why an ADVANCE is needed instead of a reimbursement. <br />• A payment schedule, with a month-by-month estimate, for up to six months, showing the <br />anticipated amount needed, and to whom the funds will be paid (IN-HOUSE EMPLOYEE or name <br />of contractor). <br />• A funding plan, indicating how the GRANTEE intends to fund the percentage of the PROJECT <br />exceeding the 50% advance limit. <br />• A statement indicating the GRANTEE will put the funds into a separate, interest bearing <br />account. <br />OGALS may not approve the total amount of the requested ADVANCE payment if the requested funds <br />will not be spent within six months from the date that the payment request is submitted by the <br />GRANTEE. <br />Clearing the Advance <br />ADVANCES must be cleared with six months of receipt. An ADVANCE is cleared by submitting: <br />1. A Grant Expenditure Form documenting expenditures on eligible costs equal to the ADVANCE <br />amount plus any earned interest. <br />2. Photos of any construction completed with the ADVANCE funds (for construction ADVANCES). <br />Acquisition Advance <br />Payment Type When to Request Documents to Send <br />ADVANCES up to 100% of <br />the acquisition amount. <br />After the contract is <br />encumbered and escrow <br />is open <br />See following instructions <br />1. Escrow letter <br />2. Title report cover page <br />3. Payment request form <br /> <br />The following items are required to request an ADVANCE payment into escrow: <br />196