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Complying with the RACP (Redevelopment Assistance Capital Program) grant application process can be tedious. There are many steps along the way, and it is critical to make sure that you are in compliance with the whole process.  Once you have determined that the RACP grant is right for your construction or development project, there are four steps involved in securing the grant:

 

To help you figure out if your project will qualify for a RACP Grant:

RACP Grant Qualifications and Process

Watchdog Video Blog- What is RACP?

 

1. Legislative Process

You start with the legislative process by working to have your project written into the State’s budget. To achieve a grant, your project must be line item on the Capital Project Itemization Act. To do this, you will need the assistance of a “champion.” You can use a lobbyist who will promote the project to legislators. Often, organizations partner with the local municipality to get your project written into the Capital Budget Itemization Act.

 

2. Pre-Award Application

Once you have identified a line item that applies to your project, there is an eight-question application that must be completed. You can find this application here.

 

3. Post-Award Application

The Post-Award Application can be daunting. It involves a twenty-two tab application. While this sounds overwhelming, much of the information needed has already been addressed in your Pre-Award application. The Post-Award Application focuses on the project information, permits and approvals, and legal considerations.

 

4. Compliance and Reimbursement Process

When awarded a grant, the first items you will receive are Special Conditions, which must be documented and returned within six months of the grant’s execution. Special conditions consist of additional documentation that Grantees are required to submit to receive grant funding.

Once you have complied with the project requirements and begin construction, you can submit a payment request to the state. The project must be ten percent complete to submit for reimbursement.

 

The final step is the RACP Audit. The state holds a certain percentage of the grant funds until a year after the project’s completion. The final percentage of your grant is released after a state auditor reviews the paperwork for compliance.

 

 

Katie Craven
Katie Craven is Marketing, Communication and Brand Manager at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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