Section 1039.80  Accessing Awards

a)         Each independent college shall have up to 5 years from the date of appropriation to access and utilize its awarded amounts [30 ILCS 769/25-10].

b)         Upon the execution of a grant agreement, the Board will release the grant funds to the grantee in accordance with the terms of the grant agreement, provided that the funds have been appropriated or reappropriated and have been made available by the Capital Development Board.

c)         The ability of a grantee to access the grant awards at any point during the five year grant period is contingent upon the amount of funding available. 

d)         Upon the execution of a grant agreement for grant funds redistributed under Section 1039.70(d), the Board will release the grant funds to the grantee in accordance with the terms of the grant agreement.