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Understanding Full Funding Grant Agreement: A Comprehensive Guide
Definition & Meaning
A full funding grant agreement (FFGA) is a formal contract that provides federal financial assistance for significant transportation projects. These projects are classified as having national or regional importance. An FFGA outlines the project's scope, specifies the maximum federal funding available, and establishes a timeline for project completion. It also ensures that the project is managed efficiently in accordance with federal laws, regulations, and policies, detailing oversight responsibilities and other essential terms.
Table of content
Legal Use & context
Full funding grant agreements are primarily used in the context of federal transportation funding. They are relevant in civil law, particularly in infrastructure development and public works projects. Users may encounter FFGAs when applying for federal grants or when involved in large-scale transportation projects. For those looking to navigate the process, US Legal Forms offers templates that can simplify the application and management of such agreements.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A city receives an FFGA to fund the construction of a new transit line. The agreement specifies the total funding amount, the expected completion date, and the responsibilities of both the city and federal agencies involved.
Example 2: A state department of transportation enters into an FFGA for a highway expansion project. The agreement outlines the project's scope, funding limits, and compliance requirements with federal regulations. (hypothetical example)
Relevant laws & statutes
Full funding grant agreements are governed by Title 23 of the United States Code, specifically under the provisions related to federal highway funding and project significance. Relevant regulations can be found in 23 CFR 505.5, which defines the FFGA and its purposes.
Common misunderstandings
What to do if this term applies to you
If you are involved in a project that may require a full funding grant agreement, consider the following steps:
Review the project scope and ensure it meets federal significance criteria.
Consult with a legal professional to understand the requirements and implications of an FFGA.
Explore US Legal Forms for templates that can assist you in drafting or managing the agreement.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.
It is a contract that provides federal financial assistance for significant transportation projects, detailing funding, scope, and compliance requirements.
State and local transportation agencies typically apply for FFGAs for eligible projects.
Non-compliance can lead to penalties, including the loss of federal funding.