Section Env-Dw 1405.15 - Loan Repayment(a) The recipient shall repay all funds received and interest accrued thereon to the department as stipulated in the SLA or allonge, as applicable.(b) The department shall deposit all funds that are repaid under this chapter to be credited directly to the PFAS RLF.(c) A community that meets the disadvantaged affordability criteria established in Env-Dw 1405.02 that has received loan forgiveness pursuant to Env-Dw 1405.02 shall repay only such funds and interest remaining, if any, after the forgiveness is applied.(d) The loan repayment shall: (1) Not exceed the loan term established in the SLA or allonge;(2) For governmental recipients for construction projects, begin by the earlier of one year following substantial completion of the project or one year following the scheduled completion date as stated in the OLA; and(3) For non-governmental recipients for construction projects:a. Commence interest-only payments by 6 months following the earlier of substantial completion of the project or the scheduled completion date as stated in the ILD; andb. Commence principal and interest repayments by one year following the earlier of substantial completion of the project or the scheduled completion date as stated in the ILD.(e) The loan shall be amortized on an annual basis for governmental entities and on a monthly basis for non-governmental entities.(f) Should excusable delay be incurred beyond the scheduled completion date of a construction project, the department shall: (1) Offer to modify the SLA or allonge, as applicable, to account for the delays; and(2) If the recipient so requests, negotiate an appropriate modification of the SLA or allonge, as applicable.(g) Any recipient may repay a loan, in whole or in part, prior to the date stipulated in the SLA or allonge, as applicable, with no prepayment penalty.N.H. Code Admin. R. Env-Dw 1405.15
Derived from Volume XLI Number 6, Filed February 11, 2021, Proposed by #13164, Effective 1/26/2021, Expires 1/26/2031.