Ariz. Admin. Code § R18-15-905 - Long-Term Water Augmentation Fund Application Review For Financial Assistance
A. After an
opportunity for public comment, the Board shall consider the Long-Term Water
Augmentation Committee's recommendations and make a determination regarding
applications for financial assistance at a public meeting. The Board shall base
this determination on the information provided in the application, analysis
prepared by the Authority, recommendation of the Long-Term Water Augmentation
Committee; and any other information provided at the public meeting. The
Authority shall inform the applicant of the Board's determination, which may
include recommended modifications to any of the following:
1. The scope of the proposed
project;
2. The applicant's legal
structure and organization;
3. The
dedicated revenue source for repayment; or
4. The structure of the financial assistance
request.
B. The
opportunity for public comment required under subsection (A) does not need to
be at the same meeting in which the Board makes its determination regarding the
applicant's request for financial assistance.
C. The Board may require an Applicant to
provide additional information before making a determination regarding a
request for financial assistance.
D. The Board may award financial assistance
to an application regardless of the recommended order and priority of
applications, provided the Board documents the specific justifications for the
action taken during a public meeting.
E. If the Board determines at any time during
a funding cycle that funds are limited or are not available to provide
financial assistance, the Authority shall notify applicants with pending
applications. The Board shall determine the amount of funding available, if
any, to make available for the remaining applications received under a given
funding cycle. The Board shall make a determination as described in subsection
(C) on each application until the available funds are committed.
F. Upon approval of an application, the
Authority shall prepare an agreement for execution by the applicant and the
Authority. The terms of the agreement shall be determined by the
Authority.
Notes
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