Disbursements of Grant Funds. For each Project Year listed above, ESD will disburse the amount listed for that Project Year, in arrears, provided that the Recipient: (a) makes one hundred percent (100%) of the required investment for that Project Year, and (b) achieves eighty-five percent (85%) of the Net New Jobs (Cumulative) for that Project Year (cumulatively, the “Disbursement Criteria”). If Recipient fails to meet the Disbursement Criteria for any Project Year, ESD will withhold grant funds until such time as the Disbursement Criteria for that Project Year have been met.
Disbursements of Grant Funds
