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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