Oregon Administrative Rules
Chapter 340 - DEPARTMENT OF ENVIRONMENTAL QUALITY
Division 54 - CLEAN WATER STATE REVOLVING FUND PROGRAM
Section 340-054-0036 - Clean Water State Revolving Fund Loans to Public Agency Borrowers: Reserves, CWSRF General Fund and Project Funding
Universal Citation: OR Admin Rules 340-054-0036
Current through Register Vol. 63, No. 3, March 1, 2024
(1) Allocation to reserves and CWSRF general fund. DEQ will allocate available CWSRF funds in a state fiscal year first to the small community, planning and green project reserves, and then to the CWSRF general fund based on the following amounts:
(a) A maximum of 25 percent of the total
available CWSRF funds to the small community reserve;
(b) A maximum of $3 million to the planning
reserve;
(c) An amount at least
equal to the minimum required by the federal capitalization grant to the green
project reserve;
(d) Amount of
funds remaining, after allocation to the reserves as specified in subsections
(a) through (c) of this section of the rule, to the CWSRF general
fund.
(2) Project funding increase.
(a) DEQ will offer a funding
increase to a public agency borrower for an existing project based on the
original project priority list ranking before offering a loan to an applicant
for a new project loan if:
(A) Funds are
available in the CWSRF; and
(B) The
public agency borrower submits a written request to DEQ for additional funding,
has the legal authority to borrow the increased loan amount and has the
financial capability to repay the increased loan amount.
(b) Any funding increase DEQ awards to a
public agency borrower will be in an amount specified in section (3) of this
rule and will be done by increasing the amount of the borrower's existing loan
or by DEQ making an additional loan to the public agency borrower at the
current interest rate.
(3) Project funding allocation.
(a) During a state fiscal year DEQ will
assign a project to an appropriate reserve, to the CWSRF general fund or to
both.
(b) Based on availability of
funds in the CWSRF at the time of allocation, DEQ will allocate an amount to a
borrower in project priority list rank order that:
(A) Is not more than the greater of $2.5
million or 15 percent of the total available CWSRF funds in a state fiscal
year. DEQ may allocate additional funds if funds are available after allocating
the maximum amount under paragraph (b)(A) of this section of the rule to each
public agency borrower who requested project funding in a state fiscal
year;
(B) Is not more than the
greater of $750,000 or 25 percent of the small community reserve, until all
eligible small community requests have been allocated;
(C) Is not more than $250,000 of the planning
reserve; and
(D) Only finances the
portion of a project funded under the green project reserve that DEQ determines
meets federal requirements for green infrastructure, water or energy efficiency
improvement, or other environmentally innovative activities as defined by EPA
requirements.
(c) During
a state fiscal year DEQ will allocate funding for a new design or construction
project loan from the CWSRF general fund if the project is not funded from a
reserve.
(d) DEQ will allocate in
project priority list rank order available funding from the CWSRF general fund
for a small community or planning project that was not allocated from their
respective reserves, or allocated less than the total loan amount
requested.
(4) Reallocation of reserve funds.
(a) DEQ may
reallocate funds between small community and planning reserves and the CWSRF
general fund unless demand exceeds available funds.
(b) DEQ will not reallocate funds remaining
in the green project reserve to the CWSRF general fund.
(5) Sponsorship option allocation. DEQ will determine the total amount of CWSRF funds to be allocated at a reduced interest rate through the sponsorship option in each state fiscal year.
Statutory/Other Authority: ORS 468.020 & 468.440
Statutes/Other Implemented: ORS 468.423 - 468.440
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