060-17 Wyo. Code R. §§ 17-13 - Reversion of Funds

(a) If the Director determines that the project has not been commenced within one (1) year from the date the grant or loan is awarded, the grant or loan will automatically expire. Based upon information supplied by the grantee or borrower, the Director may grant an extension of time in which to commence the project.

(b) If the Director determines that the project has not been completed within a reasonable time, he shall notify the grantee or borrower in writing at least thirty (30) days prior to presenting the matter for Board review. The Board, upon review of the project circumstances, may terminate or modify the grant or loan.

(c) If, the Director determines that the project is complete, but the full amount of the grant or loan has not been expended, the Office shall notify the grantee or borrower of this determination. Thirty (30) days following the notification, the unused portion of the grant or loan shall revert to uncommitted status.

Notes

060-17 Wyo. Code R. §§ 17-13