draft

Loan Forgiveness Criteria for FFY 2018-FFY2021 Capitalization Grants Loan forgiveness of up to 30% may be offered to eligible projects for communities who meet the affordability criteria to be designated as a Disadvantaged Community (DAC) in accordance with the disadvantaged community rule in Iowa Code 455B.199B (see below). Funding for individual projects is capped at $1 million per project. Beginning in FFY 2020, eligible projects from unsewered communities who meet the affordability criteria to be designated as a Disadvantaged Unsewered Community (DUC) in accordance with the disadvantaged community rule in Iowa Code 455B.199B (see below) may receive up to 50% loan forgiveness. Funding for individual projects is capped at $1 million per project. At the conclusion on SFY 2022, all of the loan forgiveness funds through Cap Grant 2021 were allocated (see below). As loans close during SFY 2023, additional loan forgiveness may become available for reallocation. The CWSRF Program may withdraw the individual project cap if additional funding becomes available. Projects that were capped will have priority for reallocated funds.

Amount Ad Sub** $872,474.26

Grant Year Reported

Project

SRF Project # CS1920823-01 CS1920876-01 CS1920828-01 CS1920828-01 CS1920773-01 CS1920773-R1 CS1920876-01

Loan Amount* $2,977,000.00 $17,575,000.00 $6,700,000.00 $6,700,000.00 $300,000.00 $452,927.75 $17,575,000.00

Calmar

2017

2017 Reallocation

Charles City Lake View Lake View St Donatus St Donatus Charles City

$20,626.00

$155,800.00 $844,200.00 $90,000.00 $135,878.33

2017 2018 2018 2018

2018 Reallocation

$909,635 $192,586

Coralville

GNS 10-04

$641,955

2018 2019 2019 2019 2019 2020 2020 2020 2021 2021 2021 2021

Woodward

CS1920814-01 CS1920906-01 CS1920954-01 CS1920876-01 CS1920954-01 CS1920993-01 CS1920878-01 CS1920878-01 CS1920871-01 CS1921013-01 CS1920974-01

$5,424,041.03 $3,289,000.00 $28,900,000.00 $17,575,000.00 $28,900,000.00

$1,000,000.00 $986,700.00

Everly Perry

$94,061 $69,739 $905,939

Charles City

Perry

Dougherty

$865,000.00

$432,500.00 $882,100.00 $117,900.00 $1,000,000 $645,900.00 $1,000,000.00

Osceola Osceola

$25,554,000.00 $25,554,000.00 $1,860,000.00 $2,153,000.00 $4,934,000.00

New Albin Frederika McGregor

*Until a loan is signed, this amount may reflect the IUP award amount **Capped at $1 million (through grant year 2021)

Loan Forgiveness Criteria for FFY 2022 Capitalization Grant Loan forgiveness (LF) of up to 90% may be offered to eligible projects that meet the Iowa SRF’s disadvantaged community affordability criteria (socioeconomic assessment score) AND are applying for a priority project. Funding for individual projects is capped at $1 million per project but the SRF Program reserves the right to withdraw the individual project cap.

IOWA SRF INTENDED USE PLANS 2023 - CWSRF | Page 23