Most grants I've seen are paid in stages exactly for this reason. Quarterly, monthly, etc. I doubt there are any strings attached if that's the case here. It's likely not worth pursuing regardless, other than maybe to take ownership of the project and branding to appoint new people. I'd like to see that here. They shouldn't be able to take and have the sole choice in closing the project entirely. The grant holder should be able to take the project over if they choose to.