USDA, RURAL DEPT. OF COMMERCE APPLICATION & DEVELOPMENT AND COMMUNITY REVOLVING FUND FINANCE AUTHORITY AWARDS WATER & AFFAIRS - CDAP WASTEWATER One funding round each Continuous (1) Continuous Generally two pooled bond year. issues per year but funds Funding Cycles can be made available throughout the year. Initial application filed with Pre-applications filed by N/A area office; if eligible, March 31 form the basis for N/A applicant invited to submit subsequent year priority Pre-Application full application. list. Any applicant may submit a full loan application. Application may be One round per year. Application may be completed at any time. Applications may be submitted after applicant From Oct. 1 March 31, submitted year round. – Application receives invitation from funding is first reserved for Agency. highest priority projects identified in the “Intended Use Plan” (IUP). Competitive review of Eligible projects are Readiness to proceed is a Review of the applicant’s eligible projects; readiness priority ranked; readiness to critical factor; if are ability to repay the debt. Award Process to proceed is a critical proceed is a critical factor limited, awards are based factor in awarding funds. in awarding funds. on priority rank as well as readiness. Loan Agreement issued on Awarding of Funds Award letters. Notice of fund obligation. the basis of actual as-bid Approval letter. costs. Synonymous with award Once all program Synonymous with award Approximately 10 days Financial Closing agreement. requirements are satisfied, agreement. after the interest rates have and prior to construction. been set by the market.
APPLICATION & AWARDS DEPT. OF COMMERCE AND COMMUNITY AFFAIRS - CDAP USDA, RURAL DEVELOPMENT WATER & WASTEWATER REVOLVING FUND FINANCE AUTHORITY Funding Cycles One funding round each year. Continuous (1) Continuous Generally two pooled bond issues per year but funds can be made available throughout the year. Pre-Application N/A Initial application filed with area office; if eligible, applicant invited to submit full application. Pre-applications filed by March 31 form the basis for subsequent year priority list. Any applicant may submit a full loan application. N/A Application One round per year. Application may be submitted after applicant receives invitation from Agency. Application may be completed at any time. From Oct. 1 – March 31, funding is first reserved for highest priority projects identified in the “Intended Use Plan” (IUP). Applications may be submitted year round. Award Process Competitive review of eligible projects; readiness to proceed is a critical factor in awarding funds. Eligible projects are priority ranked; readiness to proceed is a critical factor in awarding funds. Readiness to proceed is a critical factor; if are limited, awards are based on priority rank as well as readiness. Review of the applicant’s ability to repay the debt. Awarding of Funds Award letters. Notice of fund obligation. Loan Agreement issued on the basis of actual as-bid costs. Approval letter. Financial Closing Synonymous with award agreement. Once all program requirements are satisfied, and prior to construction. Synonymous with award agreement. Approximately 10 days after the interest rates have been set by the market.
IL-watersewerfundingcomp.docx