To be eligible for a construction grant, the design of the park must have been completed within 12 months of receiving design grant funds.
Once the full plan and bid documents (“design documents”) have been prepared using the funds provided through the design grant, the next steps are:
The town submits design documents to the Foundation for design review.
Once design documents are approved by the Foundation, the town begins the bid process and selects a contractor.
The town submits a financial statement to the Foundation demonstrating that the town’s 10% financial commitment is immediately available for payment to contractor.
The Foundation reviews and approves the contractor selected by the town.
The town and the Foundation sign the final memorandum of understanding (MOU).
The Foundation provides a cash grant equal to 90% of the bid selected.