During the town's monthly meeting Tuesday, Town Council President Roy Smith updated those in attendance.
"Basically, now it's a waiting game until mid-September," Smith said.
The council conducted a public hearing in mid-June to discuss the grant process with residents.
Recently, Smith said the town was informed by the state certain upgrades were needed in order to meet specific standards in reference to water and wastewater projects.
After reviewing options, representatives with Hannum, Wagle and Cline Engineering, Terre Haute, informed the council it would be best for the town to apply for a DR-2 through the Indiana Office of Community and Rural Affairs (OCRA), which was to be completed by July 2.
On Tuesday, Smith said grants would be awarded Sept. 1, but more than likely, the town would not be informed if it received a grant until the middle of the month.
The town began the grant process earlier this year with the help of grant administrator Kristy Jerrell.
The program is federally funded and is intended to benefit a majority of low-to-moderate income persons with various community development public assistance projects such as improvements to wastewater, water, roads, bridges and debris removal.
The town began an income survey in April in order to comply with grant specifications.
According to representatives from Hannum, Wagle and Cline, the initial idea was to put together a utility master plan. However, those plans were scrapped after the firm believed the down was in a good position to obtain DR-2 funds.
In 2009, Congress appropriated $300 million in Community Development Block Grant funds following the 2008 flooding.
Indiana, according to the OCRA website, was awarded $67 million in recovery funding.
The council meets regularly on the first Tuesday of each month at town hall. However, due to scheduling conflicts, its next meeting will take place at 9 a.m., Saturday, Aug. 7.