Treasury Now Accepting Cash Grant Applications


The U.S. Department of Treasury is now accepting online applications for cash grants pursuant to Section 1603 of the American Recovery and Reinvestment Act.

The online application largely reflects Treasury’s sample application published July 9th on its web page. However, two additional documents have been provided to supplement the application materials:

*Additional guidance related to an independent accountant’s attestation of eligible cost basis. This attestation is required for grant applications for which the eligible cost basis of the specified property exceeds $500,000.

*Specific instructions related to an applicant’s assignment in full of its right to receive payment of the cash grant in connection with project financing.

Please see full alert for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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