Wyoming Administrative Code
Agency 085 - Business Council
Sub-Agency 0005 - Workforce Housing Infrastructure Loan Program
Chapter 1 - GENERAL PROVISIONS
Section 1-13 - Fund Disbursement and Project Monitoring

(i) If the Council Staff or contractor determines the project has not started within one (1) year from the date the loan is approved, the loan will automatically expire. Based on information supplied by the applicant, Council Staff or contractor may grant an extension of time in which to start the project.

(ii) If the Council Staff or contractor determines that the project has not been completed within a reasonable time, Council Staff or contractor shall notify the applicant in writing at least thirty (30) days prior to presenting the matter for Board review.

(iii) If the Council Staff or contractor determines that the project is complete, but the full amount of the loan has not been expended, the Council Staff or contractor shall notify the applicant of this determination. Thirty (30) days following the notification, the unused portion of the loan shall revert to uncommitted status.

(i) Written reports. Within 15 calendar days at the conclusion of each calendar quarter during the term of the loan contract, the applicant shall supply Council Staff or contractor with a written progress report. Each progress report shall set forth in narrative form the work accomplished under the loan during the quarter and shall include a financial status report. At the end of the project, the applicant shall furnish Council Staff or contractor with a comprehensive report of the project. The applicant shall likewise furnish Council Staff or contractor with a cumulative financial statement, reflecting total expenditures pursuant to the loan agreement.

(ii) Audits and inspections. The Council Staff or contractor may, at its expense, conduct an audit of the records of the applicant and inspect the construction and operation of the project.

(iii) Record retention. Applicant agrees to retain all records related to the project for three (3) years following Council Staff's or contractor's date of notice to applicant of closeout of the loan.

(i) Written evaluation reports. The applicant shall submit periodic narratives evaluating program outcomes against established measures. Council Staff or contractor shall stipulate the frequency and content of the report, tailored to the specific nature of each loan, in agreements between the Council and the applicant.

(ii) Evaluation results. The Council shall use the evaluation report information to measure program outcomes, to promote learning from experience and to improve program performance. Evaluation results will be available to other applicant.