Amount Green Project Reserve
Amount Additional Subsidization*
DAC Additional Subsidization*
Loan Amount** $7,068,000 $3,557,000 $2,769,400 $7,068,000
Grant Year Reported
Type
Project
PH/C Manson DAC Lanesboro DAC Jamaica PH/C Manson
$2,442,020
2020 2021 2021 2021
$661,500 $1,000,000
$845,619
*Cap of $1 million (through grant year 2021) **Until a loan is signed, this amount may reflect the IUP award amount Loan Forgiveness Criteria for FFY 2022 Capitalization Grant:
Loan forgiveness (LF) of up to 90% may be offered to eligible projects that meet the state’s disadvantaged community affordability criteria (socioeconomic assessment score) AND are applying for a priority project. Funding for individual projects is capped at $2 million per project but the SRF Program reserves the right to withdraw the individual project cap. The total amount of loan forgiveness available for a project will be determined by adding together the loan forgiveness percentages for the priority project, the socioeconomic assessment score, and the household burden indicator. Projects will be funded from the top socioeconomic score down and in priority project ranking order with consideration given to readiness to proceed.
Eligibility for loan forgiveness will first be assessed based on the type of project seeking funding. If the project is one of the priority project (PP) types listed below, then the second evaluation will be for disadvantaged status based on the socioeconomic assessment score (SES) criteria, described below. The third element of the loan forgiveness equation is an assessment of a community or service area’s household’s ability to afford the proposed project. The Household Burden (HB) Indicator may be computed with assistance from the Municipal Advisor after the construction bid has been awarded and other funding sources have been deducted.
A detailed description of the loan forgiveness equation is outlined in BIL Annex A to the DWSRF IUP.
Loan forgiveness for FFY 2022 Cap Grant will be offered to the following eligible Priority Project Types: • Non-Compliance Issues (e.g. SDWA compliance issues and Maximum Contaminant Levels (MCL) Violations) • Consolidation/Regionalization o This priority is intended for communities who are consolidating with another system to obtain healthy drinking water or due to Technical/Managerial/Financial (TMF) issues. Systems are eligible even if there is no violation. Loan forgiveness is not being offered to systems that are buying viable systems just to franchise
• Resiliency Projects (flood/drought, redundancy and cyber security) • New Public Water System (PWS) for communities served by private wells
The DWSRF Program intends to review each IUP application received for loan forgiveness eligibility. As loans close, additional loan forgiveness awards will be made.
FFY CAP 2022 and FFY 2022 BIL General Supplemental Awards Project Name DWSRF No. Priority Points LF Priority Project Type DAC SES Score
Date Loan Signed
HB% (up to 30%)
Minimum LF %
Maximum LF%
Minimum LF Award*
Maximum LF Award*
Grant Year
Loan Amount SES % PP %
Fort Atkinson
FS-96-21- DWSRF-023
55
11 9/30/22 $ 424,000.00 15% 30% TBD 45% 75% $ 190,800.00 $ 318,000.00 2022
Compliance
*Final loan forgiveness amount may change based on eligible expenses and the final amount drawn on the loan.
IOWA SRF INTENDED USE PLANS 2023 - DWSRF | Page 45
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