The board gives preference to projects that contain the greatest levels of financial participation from nonprogram fund sources. The board shall consider twenty percent as the minimum partnership contribution, unless the board grants a special exception. The maximum amount of funding on a project from the freight mobility board shall be fifty million dollars. The board may allow the use of matching ratios greater than the original matching ratio on any phase of a project to facilitate project development, with the understanding that the total payments made by project completion shall not exceed the original matching ratio. The board allows other state funds to be considered part of the local matching funds, and port funds expended off of port property will be considered private funds.

The lead agency shall certify that nonprogram funds are available for the funding phase being considered.

Project costs eligible for reimbursement from the account shall be those proper and allowable costs incurred on a project after the project is authorized by the board.

Project records for each project developed through the use of freight mobility funding shall be audited to determine that the amount of freight mobility funds paid in connection with the project can be attributed to the project and supported by project records. The audit shall determine whether the lead agency has materially complied with the rules of the board and whether any failures to comply are significant in nature or effect. The board shall audit projects at the time of the project completion or at such additional times as may be directed by the board.

Authorized projects that are subsequently canceled shall be eligible for reimbursement from the board, if the agency developed the project in good faith, with a reasonable expectation of completion. If the board does allow reimbursement for a canceled project, the board share of the project cannot exceed the original matching ratio.

The board will not make payments of freight mobility funds on projects unless the following tasks are complete:

(1) The board has approved the phase of the project.

(2) Local matching funds are certified to be available for the phase of the project that is being billed.

Requests for payment may be submitted from time to time as the work progresses. Payments less than five hundred dollars will not be made unless it is the final request for payment. The final request for payment must be submitted within six months of the completion of work.

The board will make an adjustment to the final payment, if necessary to assure that the original board matching ratio is not exceeded.