Alabama Administrative Code › Title 335 - ALABAMA DEPARTMENT OF ENVIRONMENTAL MANAGEMENT › LAND DIVISION - BROWNFIELD REDEVELOPMENT AND VOLUNTARY CLEANUP PROGRAM › Chapter 335-15-7 - ALABAMA LAND RECYCLING REVOLVING LOAN FUND › Section 335-15-7-.08 - Application Procedures

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Each
				application for a Fund loan shall be submitted by the established deadline. The
				application shall include complete documentation required for
				processing.
(2) The following shall
				be submitted when applying for a Fund loan:
(a) An application form for a Fund loan. Each
				application shall constitute a commitment by the loan applicant to comply with
				the requirements of this Chapter and, upon execution of the agreement by the
				Authority and the loan applicant, acceptance of the terms and conditions of the
				Fund loan agreement;
(b) A
				resolution passed by the local governmental unit authorizing the filing of an
				application for a Fund loan and specifying the individual authorized to sign
				the Fund loan application. If two or more local governmental units are
				involved, a resolution is required from each, indicating the lead loan
				applicant and the authorized representative;
(c) Statement of assurances in conformance
				with Rule
				335-15-7-.14;
(d) Department approval with assessment and
				cleanup plans and reports, if applicable;
(e) Project cost breakdown;
(f) Projected cash flow schedule;
(g) Project remediation schedule;
(h) Certificate (legal opinion) from counsel
				and the authorized representative as to title or mechanism to obtain title
				necessary for project sites and easements;
(i) A certification that required local,
				State and federal permits and approvals, if applicable, were
				received;
(j) A statement from the
				loan applicant indicating that it has not violated any Federal, State or local
				law pertaining to fraud, bribery, graft, kickback, collusion or conflicts of
				interest relating to, or in connection with, the planning and implementation of
				the project;
(k) A statement from
				the loan applicant indicating if the services of a person, whose name appears
				on the Federal list of debarments, suspensions and voluntary exclusions, were
				used for planning or design of the project;
(l) Executed inter-municipal agreements, if
				required;
(m) A plan for how the
				loan applicant plans to repay the Fund loan and pay any other expenses
				necessary to fully complete and implement the project, the steps it has taken
				to implement the plan, and steps it plans to take before receiving the Fund
				loan that shall guarantee that at the time of the signing of the Fund loan
				agreement it shall be irrevocably committed to repay the Fund loan and pay any
				other expenses necessary to fully complete, implement, operate and maintain the
				project. The description shall include: pro forma projections of the loan
				applicant's financial operations during the remediation period of the project
				and five years thereafter; a summary of the sources and uses of all funds
				anticipated to be used for the Fund loan project; and a statement of the
				assumptions used in creating such projections. Loan applicants shall secure all
				Fund loans in a manner acceptable to the Authority, pledging to provide funds
				to repay the debt, even if the Fund loan is terminated pursuant to Rule
				335-15-7-.34;
(n) A completed voluntary property assessment
				or voluntary cleanup plan approved by the Department under
				335-15-4-.03 and .04;
(o) Information regarding the loan
				applicant's environmental compliance history;
(p) A viable redevelopment plan for the
				project site; and,
(q) Such other
				information as the Department may require.