Published on: 13713683. Definitions, General Program Information, Loan Agreements, Funds Reserved for Specific Purposes, Priority List Information, Planning, Design, Construction, and Procurement Requirements, Environmental Review, Audits Required, Exceptions to Program Requirements
Published on: 13382331. Amendments to Chapter 62-503, F.A.C., are proposed to clarify administrative procedures, delete unnecessary or redundant language, better define allowable and unallowable costs, restructure the priority system, and to improve the methodology for calculating the financing rate. Changes to the project priority system are being proposed so that projects addressing the Department’s core mission will receive the highest priority. These revisions would align the program’s priority system with the priorities of other Department programs. Changes in the financing rate formula will generally increase the base financing rate slightly, especially at current market rates, however the financing rate reductions proposed for implemented asset management plans, innovative/alternative projects, and new federal requirements for construction projects will frequently result in a net decrease in the financing rate for the average sponsor. The proposed changes will, however, result in an increase in financing rates during times when the bond market rates are somewhat higher that the current rate. This change was requested by the Division of Bond Finance to protect the AAA bond rating the program currently receives. The degree to which a sponsor is financially disadvantaged will remain the primary factor in determining the amount of the subsidy. The allowance for planning and design activities is being deleted and replaced with planning and design loans which will be reimbursed based on invoiced costs. Also, the requirements for an acceptable asset management plan and qualifications for innovative/alternative projects are being incorporated to define what is expected to qualify for the financing rate incentives.
Published on: 11542338. Amendments to Chapter 62-503, F.A.C., are proposed to clarify administrative procedures and to restructure the priority list process and the methodology for calculating the financing rate. Changes will be made to the priority system to promote Department objectives and to limit funding to projects that will provide the most environmental benefit for years in which funding is limited. The financing rate formula will cap the financing rate subsidy at four percent, but will also incentivize green projects and the implementation of asset management plans. Additionally, a reduction in the financing rate will be provided for loans that are required to incorporate the Davis-Bacon wage rates. Further, new types of loans are also being added to adapt the program to actual planning, design, and construction processes.
Published on: 8837008. Primarily to limit the Fund's overexposure and to offer greater control over the demands for funding, the proposed rule chapter incorporates a major restructuring. It has been expanded to incorporate a more rigorous priority scoring system designed to allow only the higher priority projects to be listed for funding. The priority system will be revised and the priority score calculation will be changed. Preconstruction loans will be replaced by separate loans for planning, design, and sanitary sewer evaluation studies, and loans specifically for inflow and infiltration projects will also be available. In addition to the segment cap limit, the total amount listed on the contingency list for any one project sponsor will be limited. Procedures are being added to accommodate certain federal provisions regarding Green Project Reserve and Additional Subsidization, if they are required.