Section 22-24-4.6 - Building system repair, renovation or replacementA. The council shall develop guidelines for a building system repair, renovation or replacement initiative pursuant to the provisions of this section.B. A school district desiring a grant award pursuant to this section shall submit an application to the council. The application shall include an assessment of the building system that, in the opinion of the school district, the repair, renovation or replacement of which would extend the useful life of the building itself.C. The authority shall verify the assessment made by the school district and rank the application with similar applications pursuant to a methodology adopted by the council.D. After a public hearing and to the extent that money is available in the fund for such purposes, the council shall approve building system repair, renovation or replacement projects on the established priority basis; provided that no project shall be approved unless the council determines that the school district is willing and able to pay the portion of the total cost of the project that is not funded with grant assistance from the fund.E. The state share of the cost of an approved building system repair, renovation or replacement project shall be calculated pursuant to the methodology in Subsection B of Section 22-24-5 NMSA 1978.F. A grant made pursuant to this section shall be expended by the school district within three years of the grant allocation.Amended by 2019, c. 180,s. 3, eff. 7/1/2019.Added by 2015, c. 93,s. 3, eff. 7/1/2015.