Many are wondering, what is a matching grant? A matching grant provides conditional funding, meaning a grantor will contribute a specific amount only if the grantee raises a predetermined amount of funds from other sources, typically in a 1:1 or 2:1 ratio.
County Grants are paid for by residents in their County Taxes.
Municipality portions are paid for by residents in their Municipal Taxes.
Bonds for additional funds are paid for by residents, with interest over a contractual period of time such as 20 or 30 years, in their Municipal Taxes.
It’s wonderful to redo all of the parks in town, however the residents deserve to know at what expense.
ONE recent example
TERHUNE PARK PROJECT
ESTIMATE $1 MILLION
You are paying for this County Grant in your County taxes. The matching funds of $180,908 are in Municipal funds in your taxes. The remaining part of the job will be bonded for meaning that is principle and interest in your debt line and taxes.
View full sizeThe math behind the project
$180,908-GRANT
$180,908-MATCHING FUNDS
$638,184-BOND WITH INTEREST
The residents are funding the items being portrayed as wins, and used for campaign advantages. Our team has a strategy and plan to still have these projects happen, at a less expense to our residents and their paychecks.