Please complete the budget table below. Please identify different activities associated with the project, their costs, the funding source, and the status. Please use the following definitions to guide the response for the Budget.
Secured.This funding source and amount of funding is guaranteed.
Anticipated. This funding source is reasonably expected to be available at the time of project implementation, but the project sponsor does not have the funds currently available. This status may apply for funding sources such as loans, bonds, or fees.
Requested. The project sponsor has submitted a request to a funding entity for the amount identified but has not received confirmation of funding. This category is appropriate for the NY Forward funding source or other grants.
Undetermined. This funding source has not been secured, and the project sponsor has not fully identified the funding sources and amounts.
Notes: Typical activities included in a construction budget include: architectural and design costs,permit and survey fees, site preparation costs, insurance / bond fees, construction costs, and contingencies.
NY Forward funds are structured as reimbursable grants. If NY Forward funds are awarded, the grant recipient may need to finance the total project cost using a bridge loan, owner equity, or another financing mechanism. In this situation, grant funds will be released once the project is completed per the contracted scope of work.
Matching and Leverage. For projects with a private sponsor, there is a minimum match requirement of 25% of the total project cost. There is no minimum match requirement for public or not-for-profit projects. However, the LPC may impose additional match requirements as part of the planning process for all project
types.
*If a proposed project has not yet developed cost estimates or identified sources of funding, please provide as much detail as possible at this stage.
*A project may include the cost of acquisition in the project budget, but the acquisition must be covered by another funding source, as NY Forward funds cannot be used to acquire property.