Trans 512.04(3)
(3) Whether the applicant has the committed financial resources to complete the project.
Trans 512.04(5)
(5) Whether the applicant certifies that funds from a loan under this chapter may not be used to pay overhead costs, replace funds from another source or refinance an existing debt.
Trans 512.04 History
History: Cr.
Register, June, 1998, No. 510, eff. 7-1-98.
Trans 512.05
Trans 512.05 Evaluation criteria. The department shall evaluate and rank the applications that are eligible for funding according to the following criteria:
Trans 512.05(1)
(1) Whether the project represents a prudent and productive investment of public funds.
Trans 512.05(2)
(2) The extent to which the project furthers economic development.
Trans 512.05(3)
(3) Whether the project is compatible and complementary to other intermodal transportation facilities.
Trans 512.05(4)
(4) Whether the project improves transportation efficiency and mobility.
Trans 512.05(5)
(5) Whether the project accelerates the completion of a major highway project under s.
84.013, Stats.
Trans 512.05(6)
(6) The degree to which the loan leverages other financial resources.
Trans 512.05(7)
(7) Whether the project can be completed in a timely manner.
Trans 512.05 History
History: Cr.
Register, June, 1998, No. 510, eff. 7-1-98.
Trans 512.06(1)(1)
Successful applicants shall be required to enter into a negotiated agreement with the department. The agreement shall be signed by the secretary or the secretary's designee and an authorized representative of the eligible applicant. Loan repayments shall commence no later than 5 years after completion of the project. The duration of the loan may not exceed 30 years. The department shall charge interest at market rates, as determined by the department, to make the project that is the subject of the loan feasible, except when the applicant satisfies the secretary that interest would represent an undue hardship for the applicant.
Trans 512.06(2)
(2) For agreements entered into by recipients of a loan of at least $100,000, a verified statement shall be submitted to the department that shall include the following:
Trans 512.06(2)(a)
(a) A
reporting of the number of jobs associated with the grant or loan and other performance measures as required by the department. The department may determine the format, content and frequency of the verified statement, and may require that the verified statement include wage reports or similar documents filed with the department of workforce development.
Trans 512.06(2)(b)
(b) Signature by both an independent certified public accountant licensed or certified under ch.
442, Stats., and the director or principal officer of the recipient to attest to the accuracy of the verified statement. The recipient shall make available for inspection the documents supporting the verified statement.
Trans 512.06(3)
(3) If the applicant submits false or misleading information to the department, or fails to comply with the terms of the contract entered into with the department and fails to provide to the satisfaction of the department an explanation for the noncompliance, then the department may do any of the following:
Trans 512.06(3)(c)1.
1. The department shall use its discretion in determining the amount of the forfeiture, with consideration given to the integrity and responsibility of the recipient and the effect that the recipient's actions had on the public. Under no circumstances shall the forfeiture exceed 50% of the grant or loan. General transportation aids or other monies payable to the applicant may be withheld in the amount of the forfeiture.
Trans 512.06(3)(c)2.
2. The recipient may submit information and arguments in opposition to a proposed forfeiture and request an informal meeting with the department. If the department determines that the recipient's opposition raises a genuine dispute over facts relevant to the proposed forfeiture, it will designate a hearing examiner and conduct a fact-finding hearing where the recipient may appear with counsel, present witnesses, and confront and cross-examine any person the department presents. The department's decision to impose a forfeiture shall be made based upon the information in the administrative record or, if a fact-finding hearing was conducted, the written findings of fact prepared by the department's designated hearing examiner.
Trans 512.06(3)(c)3.
3. Until the forfeiture is paid in full, the department may consider the recipient ineligible for any further grants or loans under chs.
Trans 510 and
512.
Trans 512.06 History
History: Cr.
Register, June, 1998, No. 510, eff. 7-1-98;
CR 09-049: renum. to be (1), cr. (2) and (3)
Register November 2009 No. 647, eff. 12-1-09;
CR 22-048: am. (1) Register July 2023 No. 811, eff. 8-1-23.
Trans 512.07
Trans 512.07 Reporting. Each agreement shall include a periodic requirement to report on economic development, transportation efficiency, mobility, and other benefits as determined by the department. The report shall be prepared by the loan recipient.
Trans 512.07 History
History: Cr.
Register, June, 1998, No. 510, eff. 7-1-98.
