060-31 Wyo. Code R. §§ 31-9 - Post Award Due Diligence
(a) Applicants
awarded loans under this Chapter must be diligent in moving projects quickly
from engineering and design to bid to contract to construction. Time is of the
essence. Successful loan applicants must demonstrate their post award due
diligence in monthly reports to the Director, received no later than the first
(1st) day of each month following the month of loan
award until such time as the project is under contract or commences
construction. At a minimum these reports shall detail the steps a successful
loan applicant has undertaken to move its project to contract or
construction.
(b) In addition to
the reporting requirements set forth is subsection (a) applicants will also
submit reports as required by the Office and USEPA until their loan is
closed.
(c) The Board reserves the
right to cancel any previously awarded loans and/or principal forgiveness for
lack of post award due diligence prior to January 1, 2010. Previously awarded
loans and/or principal forgiveness under this Chapter are automatically
relinquished on January 1, 2010 for projects not under contract or
construction. Relinquishment of funding under this subsection is necessary to
provide the Board time to award relinquished funding before the federal
government deobligates Wyoming's capitalization grants on February 17, 2010.
Such federal action would also preclude the State from sharing in a in a
nationwide pool of deobligated funds.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.