W. Va. Code R. § 47-34-21

Current through Register Vol. XLI, No. 24, June 14, 2024

Section 47-34-21 - Eligibility Criteria

The Secretary shall consider eligibility for loans to include, but not be limited to, the following criteria:

21.1. Only those dams on the List of Deficient Dams are eligible for a loan from the Dam Safety Rehabilitation Revolving Fund in accordance with the priority specified in the List of Deficient Dams, provided that a person meets the criteria under subsection 21.3.;

21.2. A person has submitted a complete application for a project with eligible costs;

21.3. A person is in a state of readiness to proceed to planning, design or construction and expend loan payments in a timely manner;

21.4. A person has demonstrated his or her ability to pay is less than the estimated cost of repair or removal of the dam;

21.5. A person has demonstrated his or her ability to repay a loan. The Secretary shall evaluate the borrower's financial stability, financial needs, and ability to repay based upon an appropriate examination of financial information, including, but not limited to, income and credit histories, income tax returns, financial statements and collateral offered to secure the loan;

21.6. Rehabilitation costs for any deficient dam are eligible, except for dams owned by the federal government;

21.7. Costs for State agency-required fish passage are eligible only if they are part of an overall rehabilitation project;

21.8. Costs for lake-enhancement projects such as lake dredging, sediment removal projects, or boat ramps, which do not enhance the safety of a deficient dam are not eligible to be funded through the Fund;

21.9. A person has provided an acceptable schedule for project initiation and completion; and

21.10. A person has demonstrated he or she has the financial, legal, and managerial capabilities to ensure adequate design, construction, completion of the project, and subsequent operation and maintenance of the dam. As a part of this demonstration, the person shall complete and submit to the Secretary financial capability worksheets supplied by the Secretary.

W. Va. Code R. § 47-34-21