Sec. 151.61 - Grant payments: Partial.
(a) Subject to the final determination
of allowable project costs as provided in §151.63 partial grant payments
for project costs may be made to a sponsor upon application. Unless
previously agreed otherwise, a sponsor may apply for partial payments on a
monthly basis. The payments may be paid, upon application, on the basis of
the costs of airport development that is accomplished or on the basis of
the estimated cost of airport development expected to be accomplished.
(b) Except as otherwise provided,
partial grant payments are made in amounts large enough to bring the
aggregate amount of all partial payments to the estimated United States
share of the project costs of the airport development accomplished under
the project as of the date of the sponsor's latest application for
payment. In addition, if the sponsor applies, a partial grant payment is
made as an advance payment in an amount large enough to bring the
aggregate amount of all partial payments to the estimated United States
share of the estimated project costs of the airport development expected
to be accomplished within 30 days after the date of the sponsor's
application for advance payment. However, no partial payment may be made
in an amount that would bring the aggregate amount of all partial payments
for the project to more than 90 percent of the estimated United States
share of the total estimated cost of all airport development included in
the project, but not including contingency items, or 90 percent of the
maximum obligation of the United States as stated in the grant agreement,
whichever amount is the lower. In determining the amount of a partial
grant payment, those project costs that the Administrator considers to be
of questionable allowability are deducted both from the amount of proj-
ect costs incurred and from the amount of the estimated total project cost