Or. Admin. Code § 340-054-0036
Current through Register Vol. 63, No. 10, October 1, 2024
Section 340-054-0036 - Clean Water State Revolving Fund Loans to Public Agency Borrowers: Reserves, CWSRF General Fund and Project Funding(1) Allocation to reserves and CWSRF general fund. DEQ will allocate available CWSRF funds in a state fiscal year first to the small community, planning and green project reserves, and then to the CWSRF general fund based on the following amounts: (a) A maximum of 25 percent of the total available CWSRF funds to the small community reserve;(b) A maximum of $3 million to the planning reserve;(c) An amount at least equal to the minimum required by the federal capitalization grant to the green project reserve;(d) Amount of funds remaining, after allocation to the reserves as specified in subsections (a) through (c) of this section of the rule, to the CWSRF general fund.(2) Project funding increase.(a) DEQ will offer a funding increase to a public agency borrower for an existing project based on the original project priority list ranking before offering a loan to an applicant for a new project loan if:(A) Funds are available in the CWSRF; and(B) The public agency borrower submits a written request to DEQ for additional funding, has the legal authority to borrow the increased loan amount and has the financial capability to repay the increased loan amount.(b) Any funding increase DEQ awards to a public agency borrower will be in an amount specified in section (3) of this rule and will be done by increasing the amount of the borrower's existing loan or by DEQ making an additional loan to the public agency borrower at the current interest rate.(3) Project funding allocation. (a) During a state fiscal year DEQ will assign a project to an appropriate reserve, to the CWSRF general fund or to both.(b) Based on availability of funds in the CWSRF at the time of allocation, DEQ will allocate an amount to a borrower in project priority list rank order that: (A) Is not more than the greater of $2.5 million or 15 percent of the total available CWSRF funds in a state fiscal year. DEQ may allocate additional funds if funds are available after allocating the maximum amount under paragraph (b)(A) of this section of the rule to each public agency borrower who requested project funding in a state fiscal year;(B) Is not more than the greater of $750,000 or 25 percent of the small community reserve, until all eligible small community requests have been allocated;(C) Is not more than $250,000 of the planning reserve; and(D) Only finances the portion of a project funded under the green project reserve that DEQ determines meets federal requirements for green infrastructure, water or energy efficiency improvement, or other environmentally innovative activities as defined by EPA requirements.(c) During a state fiscal year DEQ will allocate funding for a new design or construction project loan from the CWSRF general fund if the project is not funded from a reserve.(d) DEQ will allocate in project priority list rank order available funding from the CWSRF general fund for a small community or planning project that was not allocated from their respective reserves, or allocated less than the total loan amount requested.(4) Reallocation of reserve funds.(a) DEQ may reallocate funds between small community and planning reserves and the CWSRF general fund unless demand exceeds available funds.(b) DEQ will not reallocate funds remaining in the green project reserve to the CWSRF general fund.(5) Sponsorship option allocation. DEQ will determine the total amount of CWSRF funds to be allocated at a reduced interest rate through the sponsorship option in each state fiscal year.Or. Admin. Code § 340-054-0036
DEQ 11-2012, f. & cert. ef. 12-14-12; DEQ 9-2015, f. & cert. ef. 10/16/2015; DEQ 18-2017, amend filed 11/06/2017, effective 11/7/2017; DEQ 12-2021, amend filed 07/26/2021, effective 7/26/2021Statutory/Other Authority: ORS 468.020 & 468.440
Statutes/Other Implemented: ORS 468.423 - 468.440