Download PROJECT OWNER TOWN COSTS MATCH MATCH Example A

PROJECT
COSTS
OWNER
MATCH
TOWN
MATCH
Example A – The contractor submits a bid of $7,500 for the work.
The building owner contributes $3,750 in cash and the Town
matches it with $3,750.
$7,500
$3,750 CASH
$3,750
Example B – The contractor submits a bid of $7,500 for the work.
The building owner provides invoices for $7,500 worth of previous
interior/exterior work done to the building since July 1, 2009. The
Town will pay the contractor $7,500.
$7,500
Example C – The contractor submits a bid of $7,500 for the work.
The building owner provides invoices for only $5,000 worth of
previous work. The Town will match the $5,000 and the owner
and Town would each pay $1,250 of the remaining $2,500. This
would leave the building owner with $6,250 in cash and receipts,
and the CDBG investment would match that $6,250.
$7,500
Example D – The contractor submits a bid for $15,000 for the work.
The building owner provides invoices for only $5,000 worth of
previous work. The Town will match the $5,000. The owner would
pay $5,000 of the remaining $10,000. This would
leave the owner with $7,500 in cash and receipts and the CDBG
investment would be $10,000.
$15,000
Example E: The contractor submits a bid for $15,000 for the work.
The building owner provides invoices for only $7,500 worth of
previous work. The Town will match the $7,500 and the owner and
Town would each pay $3,750 of the remaining $7,500. This would
leave the owner with $11,250 in cash and receipts and the CDBG
investment would be $11,250.
$15,000
Paid to contractor
$7,500
$7,500 MATCH
Paid to contractor
$7,500
$5,000 MATCH
$1,250 CASH
$6,250
$5,000
$1,250
$6,250
$1,250
$6,250
Paid to contractor
$7,500
$5,000 MATCH
$5,000 CASH
$10,000
$5,000
$5,000
$10,000
$5,000
$10,000
Paid to contractor
$15,000
$7,500 MATCH
$3,750 CASH
$11,250
$3,750
Paid to contractor
$7,500
$7,500
$3,750
$11,250
$11,250
$15,000