Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM

Summary: This rule establishes the procedures and standards applicable to borrowersparticipating in the Finance Authority of Maine's statewide program for making loans to finance the renovation, removal, disposal or replacement of all or any part of certain oil storage facilities or tanks and certain air quality improvement equipment, in conjunction with the Maine Municipal Bond Bank and the Maine Department of Environmental Protection.

Basis Statement

The rule is necessary to inform borrowers of the requirements and standards for obtaining loans from the Clean Water State Revolving Fund made available for the purposes expressed in the rule. The rule sets forth eligibility requirements for borrowers and projects to be financed, and terms and conditions of loans. In drafting the rule, the Authority relied on its experience in administering similar programs, the professional judgement of its staff, and consultation with the Maine Department of Environmental Protection and the Maine Municipal Bond Bank.

During the comment period, one written comment was received from David E. Burns, Director of the Bureau of Remediation and Waste Management at the Maine Department of Environmental Protection, requesting clarification to Section 6(G) of the rule to conform the language of that Section to the rule of the Maine Department of Environmental Protection cited in that Section. The members of the Authority found that the clarification was warranted and consistent with the proposed rule, and adopted the clarification.

Economic Impact Statement - Small Businesses

The rule is not expected to have any adverse impacts on small businesses.

Fiscal Impact Note

The rule will not impose any costs on municipalities or counties.

STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14)