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Debris Removal Insurance

Published on AidPage by IDILOGIC on Jun 24, 2005

Administered by:

US Federal Government Agency (see all agencies)
Department Of Homeland Security
CFDA #: 97.064

Assistance considerations...

Length and Time Phasing of Assistance

Upon transfer of the Grant Award to the Captive through the State and City, the Captive will use the Award for the purposes described in the Grant Agreement, with attachments, for an initial period of up to 25 years from the effective date of the Grant Agreement and will not use the Award for any other purpose. In the event the Captive is unable to terminate its liabilities within the 25 year period because it would not be commercially reasonable or cost effective to do so, a request to extend the Period of Performance will be considered. An extension request must be supported by adequate written justification. No extension requests will be processed if performance and financial status reports are not current.

Formula and Matching Requirements

The Federal Share is 100% of eligible work. There is no State or local government matching requirement.

Note:
A formula may be based on population, per capita income, and other statistical factors. Applicants are informed whether there are any matching requirements to be met when participating in the cost of a project. In general, the matching share represents that portion of the project costs not borne by the Federal government. Attachment F of OMB Circular No. A-102 (Office of Management and Budget) sets forth the criteria and procedures for the evaluation of matching share requirements which may be cash or in-kind contributions made by State and local governments or other agencies, institutions, private organizations, or individuals to satisfy matching requirements of Federal grants or loans.

Cash contributions represent the grantees' cash outlay, including the outlay of money contributed to the grantee by other public agencies, institutions, private organizations, or individuals. When authorized by Federal regulation, Federal funds received from other grants may be considered as the grantees' cash contribution.

In-kind contributions represent the value of noncash contributions provided by the grantee, other public agencies and institutions, private organizations or individuals. In-kind contributions may consist of charges for real property and equipment, and value of goods and services directly benefiting and specifically identifiable to the grant program. When authorized by Federal legislation, property purchased with Federal funds may be considered as grantees' in-kind contribution.

Maintenance of effort (MOE) is a requirement contained in certain legislation, regulations, or administrative policies stating that a grantee must maintain a specified level of financial effort in a specific area in order to receive Federal grant funds, and that the Federal grant funds may be used only to supplement, not supplant, the level of grantee funds.