(2) PROJECT INTEREST RATE CALCULATION.
(a) If all of the eligible costs of a scored
project are described under only one paragraph under sub. (1), the interest
rate shall be the rate stated in the applicable section of s.
281.58 (12),
Stats. If a scored project contains eligible costs described under more than
one paragraph under sub. (1) and s.
281.58 (12),
Stats., specifies interest rates for the categories that are different from
each other, a composite interest rate shall be computed for the scored project
under par. (b).
(b) The composite
interest rate shall be computed as follows:
RC = (RT 1)(PR 1) + (RT 2)(PR 2) + (RT 3)(PR 3)
where:
RC . . . is the composite interest rate for the project.
RT 1 . . . is the interest rate stated under s.
281.58 (12) (a) 1 a., b., or c., Stats., for the municipality
based on its population as described in s.
NR 162.003 (55) and median household income as
determined under par. (d).
RT 2 . . . is the market interest rate as defined under s.
281.58 (1) (cg), Stats.
RT 3 . . . is the interest rate established under s.
281.58 (12) (a) 5, Stats., for projects that provide
facilities to receive or store septage, or provide treatment capacity for
septage, as defined in s.
281.58 (1) (cv), Stats.
PR1 . . . is the percentage of the project under s.
NR 162.03 (1) (a),
(b), and (d) and (2) that is eligible for a
subsidized rate and being financed by the CWFP, and under s.
NR 162.03 (1)
(c) if the municipality is not a violator of
an effluent limitation as defined in s.
281.58 (1) (e),
Stats.
PR2 . . . is the percentage of the project being financed
by the CWFP that is eligible under s.
NR 162.04 (1)
(b), and under s.
NR 162.03 (c) if the municipality is a violator of an
effluent limitation as defined in s.
281.58 (1) (e),
Stats.
PR3 . . . is the percentage of the project being financed
by the CWFP that is eligible under s.
NR 162.03 (1) (a)
1. and eligible for a zero percent interest
rate under s. 281.58 (12) (a) 5, Stats.
(c) The interest rate shall be based on the
market rate in effect at the time the municipality passes a bond resolution to
secure the loan from the CWFP.
(d)
The department shall determine median household income for purposes of
determining the loan interest rate as established in s.
281.58 (12) (a) 1 a. to c., Stats., as follows:
1. If the municipality is a place, as defined
for purposes of data collection by the U.S. bureau of the census, including a
city, village, or census designated place, or the municipality is a county or a
minor civil division, the department shall obtain the most recent 5-year-data
median household income figure published for the municipality by the U.S.
bureau of the census prior to the department's publishing of the annual project
priority list.
Note: The department uses U.S. bureau of the
census municipal incomes as derived from the American Community Survey and
published annually in the 5-year survey data. At the time of writing of this
administrative code, the U.S. bureau of the census is not collecting income
data during the decennial census. The U.S. bureau of the census does not
publish data for all types of municipalities eligible for CWFP financial
assistance.
2. The
department may require a municipality for which the U.S. bureau of the census
does not publish median household income data to provide information to assist
the department in determining a median household income for the municipality
for purposes of this chapter. The information required and used by the
department may include any of the following:
a. The number of residential users served by
the municipality.
b. A map showing
the municipal boundaries, and the number of residential users served by or the
population of the municipality within each town or county for municipalities
that cross town or county boundaries.
3. If the municipality is a town sanitary
district or public inland lake protection and rehabilitation district, the
municipality may supply a median household income provided by the U.S. bureau
of the census, along with documentation of how the median household income was
determined. Whether the median household income is initially determined by the
department or supplied by the municipality for the department's approval, this
median household income of the municipality shall be derived from the same ACS
data release as that being used by the department for the fiscal year
applicable to the funding cycle for which the application is submitted and
shall be one of the following:
a. A median
household income derived by requesting a custom tabulation of income data at
the census block level from the ACS.
Note: To obtain a custom tabulation, the
municipality will likely need to compare a map showing the boundaries of the
municipality to a census block map and determine which census blocks contain
any portion of the municipality. The municipality would then submit the
appropriate census block numbers to the U.S. bureau of the census (see
https://www.census.gov/programs-surveys/acs/data/custom-tables.html)
with a request for a custom tabulation of a median household income figure for
that set of identified blocks only.
b. The median household income of the census
tract or block group that encompasses the municipality. If the municipality
falls within 2 or more census tracts or block groups, the median household
income shall be weighted by the population of the municipality that resides
within each census tract or block group.
c. The median household income of the minor
civil division within which the municipality is located. If the municipality
falls within 2 or more minor civil divisions, the median household income shall
be weighted by the population of the municipality that resides within each
minor civil division.
d. An average
median household income calculated by: determining the published median
household income of each member municipality if the applicant municipality,
such as a sanitary district or metropolitan sewerage district, is made up of
multiple municipalities, such as cities, villages, and census designated
places; weighting each of those median household incomes by the percentage that
the population of the individual municipality is of the total population;
summing the individual weighted median household incomes; and dividing the sum
by the total number of municipalities that are members of the applicant
municipality.
4. If the
sewer service area of the treatment works within the boundaries of the
municipality is different than the municipality's boundaries, the municipality
may choose to follow the custom tabulation procedure as described under subd.
3. a. and submit the result to the department to use in lieu of the median
household income obtained by the department as described under subd.
1.
