Iowa Administrative Code
Agency 265 - Iowa Finance Authority
Chapter 28 - Wastewater and Drinking Water Treatment Financial Assistance Program
Rule 265-28.3 - Project Funding
Current through Register Vol. 47, No. 13, December 25, 2024
(1) Approval of projects. The committee will approve or deny applications for financial assistance. The committee will approve financial assistance from the fund in accordance with the priorities listed in subrule 28.3(2). The committee will determine the weighting of priorities on an annual basis.
(2) Project priority. Priority will be given:
(3) Awards. Financial assistance in the form of grants will be issued on an annual basis. No recipient will receive a grant in excess of $500,000.
(4) Costs. All eligible costs must be documented to the satisfaction of the authority before proceeds may be disbursed.
(5) Record retention. The recipient shall maintain records that document all costs associated with the project. The recipient shall agree to provide access to these records to the authority. The recipient shall retain such records and documents for inspection and audit purposes for a period of three years from the date of the final disbursement of grant funds.
(6) Site access. The recipient shall agree to provide the authority, the department and the department's agent access to the project site at all times during the construction process to verify that the funds are being used for the purpose intended and that the construction work meets applicable state and federal requirements.