Iowa Administrative Code
Agency 761 - Transportation Department
Railroads
Chapter 822 - Railroad Revolving Loan and Grant Fund Program
Rule 761-822.13 - Project Agreement and Administration
Universal Citation: IA Admin Code 761-822.13
Current through Register Vol. 47, No. 13, December 25, 2024
(1) Agreement. After the applicant has accepted the award for a project, department staff shall negotiate and execute an agreement with the applicant. Department staff shall administer the agreement.
a. The agreement
shall specify the scope of the project, the approved funding level, and other
conditions for project funding.
b.
As applicable, the agreement shall address responsibilities for consultant
selection, project design, right-of-way acquisition, contracting, construction
and materials inspection; documentation required for reimbursement of project
costs; loan repayment terms; audit requirements; and maintenance of the
completed project.
c. The applicant
shall execute the agreement within 180 days following the acceptance of the
award. The applicant may request an extension, and department staff may approve
an extension for good cause. Failure to execute an agreement within the
specified time may result in forfeiture of the award.
(2) Reimbursement. The applicant will be reimbursed for eligible project costs in accordance with the agreement.
(3) Audits.
a. Prior to
execution of the agreement, department staff may perform a preaudit evaluation
of the applicant or others as defined in the agreement. A preaudit evaluation
typically includes an examination of accounting methods to determine the
applicant's ability to segregate and accumulate costs to be charged against the
project, and an analysis of costs factors to ensure their propriety and
allowability.
b. Department staff
may conduct a final audit of all project costs.
(4) Remedies for noncompliance with project agreement. The commission may revoke a funding commitment, require repayment of funds loaned or granted or take both actions when the applicant has not fulfilled the terms of the project agreement.
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