(a) Escrow of funds. The executive administrator may
deposit funds into an escrow account at the time of closing of the
financial assistance. Releases from an escrow account must occur sequentially
as described in subsection (c) of this section or in accordance with
phasing required for the applicable project. The Applicant must submit
outlays for all expenses incurred.
(b) Reimbursement method of accessing funds. DWSRF
financial assistance is available for disbursement under a reimbursement
method unless the executive administrator approves the deposit of
funds into an escrow account at the closing of the financial assistance,
as appropriate. The executive administrator will reimburse the Applicant's
expenditures upon the receipt of an outlay report supported by detailed
invoices of expenditures, or the executive administrator may issue
a written authorization for the release of funds from an escrow account
based on the receipt of outlay reports supported by detailed invoices
of expenditures. The outlays and releases from an escrow account must
be consistent with the approved project schedule.
(c) Sequence of availability of funds. Financial assistance
is available for disbursement in the following sequence:
(1) for planning and permitting costs, after receipt
of executed contracts for the planning or permitting phase, and after
approval of a water conservation plan;
(2) for design costs, after receipt of executed contracts
for design, after approval of an engineering feasibility report, and
after completion of the environmental review; and
(3) for construction costs, after issuance of any applicable
permits, after acquisition documents and contract documents (including
plans and specifications) are approved and executed, and after the
executive administrator has approved the issuance of a Notice to Proceed.
(d) Outlay reports. Applicant's outlay reports must
be supported by detailed invoices for incurred costs as the project
progresses in accordance with the project schedule. Outlay reports
must be submitted in a form determined by the executive administrator,
and on the following schedule:
(1) for financial assistance for planning, acquisition,
and design, quarterly; and
(2) for financial assistance for construction, monthly.
(e) Consistency for project schedules and outlays.
Projects must proceed in accordance with approved project schedules
as closely as possible.
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