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23 February 2012 <br />Q. Is this a one-time fund? <br />A. Yes. <br />Q. Is there a minimum and a maximum amount of funds to be requested? <br />A. There is no minimum or maximum grant amount to be applied for or awarded. Grant applications will <br />be evaluated and funds may be awarded for less than the amount requested under certain <br />circumstances. <br />Q. Who can apply for these funds? <br />A. Cities, counties within the 7 county region, local development authorities, rail authorities, private or <br />nonprofit developers and nonprofit organizations supporting TOD, entrepreneurs and small business <br />development. <br />Q. If awarded, when do grant funds need to be spent? Are extensions available? <br />A. Grant funds need to be spent and drawn down from Metro Council by January 2014. No extensions will <br />be granted because the grant expires in January 2014. <br />Q. Can grant funds be used to reimburse grant activities for past project activities? <br />A. No. Reimbursements for prior expenditures are not eligible. Grant funds must be used to pay for costs <br />incurred after the grant is awarded. <br />Q. Can a project that was submitted for the LCA TOD funds from the Metropolitan Council also apply for <br />the LIC grant funds? <br />A. Yes. Leveraged projects are encouraged. <br />Q. What is meant by a letter of support from a city if the applicant is NOT the city? <br />A. The city that the project is located within must submit a letter of support. The letter of support can be <br />submitted by the person within the city that the city has designated for this responsibility (e.g. Mayor, <br />City Manager, City Council). A resolution is not required unless the city requires it as its form of support. <br />Q. Can the letter of support be the resolution adopted by the city for the LCA TOD application? <br />A. Yes. <br />Q. When are letters of support due? <br />A. Letters of support will be accepted up to Wednesday, March 14, 2012 at 4 PM. If the letter of support is <br />not submitted by that time, the application will be deemed incomplete and ineligible. <br />Q. How do you want the following requested information on the application form handled? <br />Q-1. How detailed does the budget need to be? <br />A-1. There are not firm and fast rules here. Provide as much information as possible regarding what <br />funding is needed to move the project forward to support the application would be helpful. <br />2 <br />Corridors of Opportunity LIC Website: www.metrocouncil.org/planning/COO/LICGrantsNOFA.htm <br />