What happens after the Director approves projects for funding?

§ 86.61 What happens after the Director approves projects for funding? (a) After the Director approves projects for funding, we notify successful applicants of the: (1) Amount of the grant; (2) Documents or clarifications required, including those required for compliance with applicable laws and regulations; (3) Approvals needed and format for processing approvals; and (4) Time constraints. (b) After we receive the required forms and documents, we approve the project and the terms of the grant and obligate the grant in the Federal financial management system. (c) BIG funds are available for Federal obligation for 3 Federal fiscal years, starting October 1 of the fiscal year that funds become available for award. We do not make a Federal obligation until you meet the grant requirements. Funds not obligated within 3 fiscal years are no longer available.