After the broadband expansion program authority awards a program grant under section 122.4043 of the Revised Code, the development services agency shall disburse the program grant as follows:

(A) A portion of the program grant, not to exceed thirty per cent, shall be disbursed before construction of the project begins.

(B) A portion of the program grant, not to exceed sixty per cent, shall be disbursed through periodic payments over the course of construction of the eligible project as determined by the agency by rules adopted under section 122.4077 of the Revised Code.

(C) The remaining portion shall be disbursed not later than sixty days after the broadband provider notifies the authority that it has completed construction of the project.