Fla. Admin. Code Ann. R. 62-552.500 - Funds Reserved for Specific Purposes

(1) Small Community Reserve.

(a) Fifteen percent of the funds allocated each year by the Department shall be reserved to fund projects that will serve small communities.

(b) When the priority list is adopted, any part of the reserved amount not needed for small community projects shall become available for all projects.

(2) Financially Disadvantaged Community Reserve.

(a) Up to fifteen percent of the funds allocated each year by the Department less the amount of any bonds issued or to be issued by the FWPCFC or up to the maximum percentage allowable of the Federal Capitalization Grants for Drinking Water SRF in any fiscal year, whichever is less, shall be reserved to fund projects that will serve financially disadvantaged communities.

(b) When the priority list is adopted, any part of the reserved amount not needed for financially disadvantaged community projects shall become available for all projects.

(3) Funds reserved for principal forgiveness. If required in the federal capitalization grant, funds shall be reserved for providing loan principal forgiveness to projects that qualify as a financially disadvantaged small community. The percentage of principal forgiveness shall be determined as described in paragraph 62-552.300(2)(b), F.A.C.

Notes

Fla. Admin. Code Ann. R. 62-552.500

Rulemaking Authority 403.8532 FS. Law Implemented 403.8532 FS.

New 4-7-98, Amended 8-10-98, 7-20-99, Amended by Florida Register Volume 43, Number 129, July 5, 2017 effective 7/17/2017.

New 4-7-98, Amended 8-10-98, 7-20-99, 7-17-17.