Impact Fund Funds Disbursement
We have had questions regarding the Impact Fund funds disbursement process and what significant progress means when disbursing funds. You can find the current disbursement policy in the Impact Fund Procedural Manual.
While the initial disbursement is limited to 1/3 of the total award amount, subsequent disbursements have no limit on the amount of funds requested. Additionally, there are no specific time limitations on how soon an Administrator may request subsequent disbursements after the intial disbursement. Rather, whether and how much funds will be disbursed is based on significant progress.
When evaluating significant progress, Impact Fund staff will review the funds request form and take into consideration the progress of the project including the following:
- Identification of lots
- Progress of construction
- Timeline of the project
- Submission of required documents
- Historical capacity of the Administrator
- Level 3 monitoring issues or other outstanding issues
The purpose in considering these items is to ensure that funds are being used to move projects forward. Impact Fund staff may reach out to the Administrator for additional information about projects to effectively evaluate significant progress on projects.
Keep in mind that projects do not necessarily need to be completed to request subsequent disbursements after the initial request of funds.