Florida Administrative Code › 62 - DEPARTMENT OF ENVIRONMENTAL PROTECTION › 62 - Departmental › Chapter 62-554 - WATER STORAGE FACILITY LOAN PROGRAM › Section 62-554.200 - General Program Requirements

Current through Reg. 50, No. 138; July 16, 2024
(1) This
				chapter implements section
				 373.475, F.S., and provides
				procedures and criteria for making loans to water supply entities for the
				development and construction of water storage facilities to increase the
				availability of sufficient water for all existing and future
				reasonable-beneficial uses and natural systems.
(2) Loan amounts for up to 75 percent of the
				costs of planning, designing, constructing, upgrading, or replacing water
				resource infrastructure or facilities, whether natural or man-made, including
				the acquisition of real property for water storage facilities may be awarded.
				Loans shall be a minimum of $75, 000.
(3) The Department shall solicit proposals at
				least once a year, in years which funding is appropriated by the legislature
				for water storage facility projects to receive loan funding under this chapter.
				Any solicitation for proposals by the Department shall specify the weight to be
				given to the criteria set forth in subsection
				 62-554.300(2),
				F.A.C., for purposes of ranking proposals that are received by the Department.
				In years in which funding is available, projects will be awarded funding in
				order of rank until the appropriated funds are exhausted.
(4) If the Department is soliciting proposals
				for projects, an interested applicant may apply for loan funding under this
				chapter for activities identified in paragraph
				 373.475(3)(a),
				F.S., by submitting Water Storage Facility Loan Program Request for Funding,
				Form 1, effective 7-19-18, hereby adopted and incorporated by reference. Copies
				of the form may be obtained by writing to the Florida Department of
				Environmental Protection, Drinking Water State Revolving Fund, 3900
				Commonwealth Boulevard, Mail Station 3505, Tallahassee, Florida 32399 or the
				form can be obtained at
http://www.flrules.org/Gateway/reference.asp?No=Ref-09536
.
(5) The Department shall perform an
				environmental review for each project to be funded in accordance with rule
				 62-552.680, F.A.C.
(6) The project sponsor shall submit the
				following:
(a) Evidence of the permittability
				or implementability of the facility proposed for financial
				assistance.
(b) Evidence that the
				purpose of the water storage facility proposed for financial assistance is
				consistent with the applicable water supply plan.
(c) The public participation process used to
				explain the project and the financial impacts to the public.
(d) Financial feasibility information
				addressing the following:
1. The sources and
				amounts of revenues to be dedicated to repaying the loan and the expenses,
				charges, and liens against or to be paid from such dedicated funds or revenues.
				The information shall demonstrate the ability to repay the loan with a margin
				of safety, which includes the following:
a.
				Pledged revenue coverage ratio of at least 1.15 for projects sponsored by a
				local governmental agency;
b. A
				current term debt and capital lease coverage ratio of at least 1.15, as
				explained in subsection 62.554.300(7), F.A.C., for projects sponsored by other
				than a local governmental agency; or
c. Other equivalent means of providing a
				margin of safety, as approved by the Department.
2. Capital improvements that will be financed
				from the same funds or revenues dedicated to repaying the loan.
3. The proposed system of charges, rates,
				fees, and other collections that will generate the revenues to be dedicated to
				loan repayment. The rate structure of the revenue generation system shall be
				approved at least six months before the first loan repayment is due or before
				the project closeout, whichever occurs first. The rate structure shall be
				implemented in a timely manner to ensure the generation of sufficient revenues
				dedicated to loan repayment and may be implemented in phases to the extent
				timely and sufficient revenue generation will be accomplished. The revenue
				generation system shall be revised, as necessary, to satisfy the pledged
				revenue requirements of the loan.