Louisiana Administrative Code › Title 33 - ENVIRONMENTAL QUALITY › Part VI - Inactive and Abandoned Hazardous Waste and Hazardous Substances Site Remediation › Chapter 11 - Brownfields Cleanup Revolving Loan Fund Program › Section VI-1113 - Loan Application Process

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The department may choose to accept loan applications on a continuous basis as
				funding permits or may announce specific application periods for acceptance of
				loan applications. If the department announces specific application periods,
				loan applications must be received on or before the deadline set by the
				department.
B. Applicants for loans
				shall complete and submit to the department an application package in a format
				specified by the department, including a Brownfields Cleanup Revolving Loan
				Fund Application Form that will be provided by the department. The application
				package must also include, but is not limited to:
1. a complete description of the project,
				including the sources and uses of funds, the project schedule, the estimated
				cost to complete the project, the estimated completion date, the amount of loan
				funds requested, and the source of other funding, if needed, to complete the
				project;
2. the last three years of
				the borrower's financial statements, which shall include the income statement,
				balance sheet, and cash flow statement, and tax returns;
3. an interim financial statement no more
				than 90 days old;
4. two years of
				financial projections, which must include an income statement, balance sheet,
				cash flow statement, and notes to the financial statements for each
				year;
5. a department-approved
				remedial investigation report;
6. a
				written access agreement providing the department and its authorized
				representatives full access to the site;
7. an agreement to maintain financial records
				of the project, to conduct financial audits of these financial records, and to
				make the records available to the department promptly upon request;
8. if a cost-share is required by the
				department during this loan application period, a description of how the
				applicant will provide the cost-share for the project;
9. all information regarding the site
				required by the department to assist the department in determining eligibility
				of the site for participation in the loan program;
10. other information regarding the project
				requested in the application package to assist the department in ranking the
				project for funding;
11. proof of
				ownership of the property, or a purchase agreement with the current owner of
				the property, including evidence of clear title;
12. an appraisal of the estimated value of
				the property after the remedial action is complete;
13. discussion and evidence, as requested in
				the application form, demonstrating the eligibility under these regulations of
				the applicant and the property for a revolving loan;
14. a comprehensive redevelopment plan
				describing the future redevelopment and use of the property, including cost
				estimates for the redevelopment plan, and any economic and community benefits
				resulting from the cleanup and redevelopment of the property; and
15. other items specified in the application
				form or otherwise required by the department.