261—7.27 (260F) Special requirements for department-sponsored high technology apprenticeship projects.
	 7.27(1) Eligible applicants include any organization that is approved by the U.S. Department of Labor, Bureau of Apprenticeship and Training to provide an apprenticeship program. This group shall be referred to as an apprenticeship sponsor.
	 7.27(2) Administrative costs shall be limited to 15 percent of the total project cost.
	 7.27(3) All administrative costs must be directly related to the project’s operation, including but not limited to the costs of schedule coordination, securing facilities, and contracting with training providers.
	 7.27(4) The apprenticeship sponsor shall submit an Apprenticeship Application for Assistance, Form 260F-1E, to the department for project approval.
	 7.27(5) Applications shall be accepted on a first-come, first-served basis.
	 7.27(6) Application approval is at the discretion of the department board and shall consider recommendations made by department staff.
	 7.27(7) The department shall enter into a training contract with the apprenticeship sponsor within 90 days of board approval, using Apprenticeship Training Contract, Form 260F-4E.
	 7.27(8) All default provisions specified in 261—7.30(260F) shall apply to college-sponsored apprenticeship training projects.
	 7.27(9) In the event of a default, a financial penalty will be assigned by the department to the business or apprenticeship sponsor identified as responsible for the default.
	 7.27(10) The apprenticeship sponsor shall submit quarterly progress reports for the duration of the project which detail training progress to date.
	 7.27(11) Each apprenticeship sponsor that participates in the high technology apprenticeship program shall complete a Final Performance Report, Form 260F-5A, at the completion of training as a condition of the loan’s being forgiven.
	 7.27(12) Each project shall receive a two-month advance of total project funds to cover initial costs incurred, the use of which must be documented to the department, after which documented costs incurred will be reimbursed on a monthly basis.