Sec. 32.03.01.10. Allowable Types of Local Contributions

A. Except when the application is for the development of a master plan, the applicant may apply the following types of contributions toward the applicant's required share of the cost of eligible work:

(1) Cash;

(2) The value of real property and improvements made available by the applicant for use as part of the project; and

(3) If the applicant proposes to contribute leased property for use as part of the project, the 15-year net retail rental value of that property.

B. The total value of allowable local contributions shall equal or exceed the amount of the requested State grant, except as provided in Regulation .07E of this chapter.

C. If the application is for the development of a master plan, the applicant shall contribute at least 50 percent of the cost of eligible work in cash.