2519.700 Are matching funds required§ 2519.700 Are matching funds required?
(a) Yes. The Corporation share of the cost of carrying out a program funded under this part may not exceed 50 percent.
(b) In providing for the remaining share of the cost of carrying out a program, each recipient of assistance must provide for that share through a payment in cash or in-kind, fairly evaluated, including facilities, equipment, or services, and may provide for that share through State sources, local sources (including private funds or donated services) or Federal sources (other than funds made available under the national service laws).
(c) However, the Corporation may waive the requirements of paragraph (b) of this section in whole or in part with respect to any program in any fiscal year if the Corporation determines that the waiver would be equitable due to lack of available financial resources at the local level.[59 FR 13792, Mar. 23, 1994, as amended at 74 FR 46506, Sept. 10, 2009]