147A.320 Capacity building grant program -- Challenge grant program -- Administrative regulations -- Annual report. - Kentucky Statutes

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Page 1 of 2 147A.320 Capacity building grant program -- Challenge grant program -- Administrative regulations -- Annual report. (1) The Department for Local Government may: (a) Establish a capacity building grant program, through which it may provide qualified community foundations, county-specific component funds, and
affiliate community foundations with grants from the fund for the purpose of
developing and enhancing the receiving foundation's capacity to operate and
execute its mission, subject to the following restrictions:
1. No qualified community foundation, county-specific component fund, or
affiliate community foundation may receive more than one (1) capacity
building grant during any fiscal year; 2. No single capacity building grant shall exceed fifty thousand dollars
($50,000); and 3. At least forty percent (40%) of funds awarded as capacity building
grants shall be provided to newly established or emerging qualified
community foundations, county-specific component funds, or affiliate
community foundations that specifically seek to address the needs of
rural areas of the Commonwealth; (b) Establish a challenge grant program, through which it may provide qualified community foundations, county-specific component funds, and affiliate
community foundations with grants from the fund for the purpose of building
community-based unrestricted endowment funds by encouraging individuals,
businesses, and other organizations to provide endowment gifts, subject to the
following restrictions:
1. No qualified community foundation, county-specific component fund, or
affiliate community foundation may receive more than one (1) challenge
grant during any fiscal year; 2. Challenge grants may be provided in amounts not to exceed fifty percent
(50%) of the amount of privately donated endowment gifts provided to
the receiving qualified community foundation, county-specific
component fund, or affiliate community foundation during the one (1)
year period preceding the grant award. However, no single challenge
grant shall exceed five hundred thousand dollars ($500,000); and 3. At least forty percent (40%) of funds awarded as challenge grants shall
be provided to newly established or emerging qualified community
foundations, county-specific component funds, or affiliate community
foundations that specifically seek to address the needs of rural areas of
the Commonwealth; and (c) Promulgate administrative regulations in accordance with KRS Chapter 13A to administer this section. (2) Upon the establishment of any grant program under this section, the Department for Local Government shall provide an annual report to the commission, which shall
include: Page 2 of 2 (a) The total number of grant requests submitted during the year, along with the amount of funds requested and the identity of the foundation making the
request; and (b) Information regarding all grants actually awarded during the year. Effective: July 15, 2010
History: Created 2010 Ky. Acts ch. 71, sec. 5, effective July 15, 2010.
Legislative Research Commission Note (7/15/2010). References to the "Governor's Office for Local Development" in subsections (1) and (2) of this section, as created
by 2010 Ky. Acts ch. 71, sec. 5, have been changed in codification to the
"Department for Local Government" to reflect the renaming of that agency in
Executive Order 2009-540, which was confirmed by the General Assembly in 2010
Ky. Acts ch. 117. These changes were made by the Reviser of Statutes pursuant to
2010 Ky. Acts ch. 117, sec. 90.