(a) The estimated costs of a project for which an application is submitted shall be consistent with normal public construction costs in the applicant’s area.
(b) An applicant wishing to construct a project with costs which exceed normal public construction costs in the applicant’s area may apply for a grant in an amount not to exceed 65 percent of the normal costs if the applicant certifies that it is capable of financing the remainder of the project costs from other sources.
Terms Used In California Education Code 19964
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(Added by Stats. 1988, Ch. 49, Sec. 1. Approved in Proposition 85 at the November 8, 1988, election.)