(a) Grant amounts. The amount of grant funds that will be made available to a Partnership under this subpart will not exceed 80 percent of eligible project costs. The Federal share of the cost of any activity carried out using a grant under this section shall not be greater than 80 percent.
(1) Minimum request. Unless otherwise specified in a Federal Register notice, the minimum request for a RISE grant application is $500,000.
(2) Maximum request. Unless otherwise specified in a Federal Register notice, the maximum request for a RISE grant application is $2,000,000.
(b) Matching funds. The applicant is responsible for securing the matching funds for total eligible project costs that are not covered by grant funds. The non-Federal share of the total eligible project costs of any activity carried out using a grant under this section may be in the form of third-party equity contributions including donations and in-kind contributions of fairly-valued goods or services.
(c) Eligible project costs. Eligible project costs are only those costs incurred after a complete application has been received by the Agency and are associated with the items identified in paragraphs (c)(1) through (6) of this section. The applicant is responsible for any expenses incurred in developing its application. Each item identified in paragraphs (c)(1) through (6) of this section is only an eligible project cost if it is directly related to, and its use and purpose is limited to the RISE grant project. Any building or equipment purchased with grant proceeds must be owned and controlled by the lead applicant. The following is a list of eligible project costs:
(1) Costs directly related to the purchase or construction of an innovation center;
(2) Costs directly related to operations of an innovation center including purchase of equipment, office supplies, and administrative costs including salaries directly related to the project;
(3) Costs directly associated with support programs to be carried out at or in direct partnership with job accelerators;
(4) Reasonable and customary travel expenses directly related to job accelerators and at rates in compliance with 2 CFR 200.474;
(5) Utility costs, operating expenses of the innovation center and job accelerator programs and associated programs;
(6) Administrative costs of the grantee will not exceed 10% of the grant amount for the duration of the project.
(d) Ineligible project costs. Ineligible project costs and uses of funds for RISE projects include, but are not limited to:
(1) Costs associated with preparation of an application package under this notice;
(2) Costs incurred prior to Agency receipt of a complete application for the grant request made under a funding notice;
(3) Funding of any political or lobbying activities;
(4) Payment for assistance to any private business enterprise which does not create and/or support jobs in a rural area of the United States;
(5) Payment of any judgment or debt owed to the United States;
(6) Duplicate current services or substitute support previously provided. If the current service is inadequate, however, grant funds may be used to expand the level of effort or services beyond what is currently being provided;
(7) To fund a part of a project that is dependent on other funding unless there is a firm commitment of the other funding to ensure completion of the project;
(8) Pass through grants; and
(9) costs associated with hemp production, unless a hemp producer has a valid license issued from an approved State, Tribal or Federal plan as per Section 10113 of the Agriculture Improvement Act of 2018, Public Law 115-334 (verification of valid hemp licenses will occur at the time of award).