A cost reimbursement grant (CRG) is a federal, state and local program that helps companies finance capital projects that support public safety.
When businesses or organizations apply for assistance, they must meet a number of conditions.
They must provide a detailed explanation of why they need the money
They must submit a business plan that includes all of the following:
A cost-benefit analysis to show the value (to the project) of the capital project
A written business plan that demonstrates the cost.
A detailed proposal for how the project will be funded.
A request for details on how the project will be performed.
The following are key requirements of CRG grants:
Businesses that apply must explain why they need the money
They must explain why the money is needed
If the project will occur in a state governed by certain rules or standards, the applicant must also make sure the funding has the necessary approval
They may not be used by government agencies and do not mean government money
Businesses need not disclose their full expenses
They must make their cost estimates clear, including the estimate of whether capital project costs will exceed expected revenues
Companies may not be required to share their expenses
What are the types of projects supported through CRG grants?
CRG grants range from small, general purpose projects to large general purpose projects, such as school building projects, community center infrastructure, bridge and highway improvements, and transit project improvements.
A CRG grant may fund different types of capital project. For example, a construction program that includes building new infrastructure may be more expensive than a CRG grant supported project that requires only minor renovations or new equipment to operate.
What are grant application requirements?
Applications must be made online through the website of an area agency that is involved in the project. A short application process may involve:
Filing the application online (a $50 application fee is assessed), along with a cover letter and references
An interview process, which requires an applicant to meet with the chief of the grant office or other agency officials. A potential applicant may be required to take an online assessment exam (such as the National Association of State Finance Directors Assessments)
The final stage of the application is a state review, wherein the application is reviewed by a number of state agencies and/or the chief of the grant office
How do I get help to apply for a CRG grant
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