NR 747.305 Note1m. If an applicant received written notification that no further remedial action is necessary with respect to a discharge before September 1, 2001, and the applicant’s final claim is submitted more than 120 days after September 1, 2001, interest costs incurred by the applicant after the 120th day after September 1, 2001, are not eligible costs.
NR 747.305 Note2. Subdivision 1. does not apply to any of the following:
NR 747.305 Notea. An applicant that is a local unit of government, if federal or state financial assistance other than under this section, has been provided for that expansion or redevelopment.
NR 747.305 Noteb. An applicant that is engaged in the expansion or redevelopment of brownfields, as defined in s. 238.13 (1) (a), if federal or state financial assistance other than under this section, has been provided for that expansion or redevelopment.” NR 747.305 NoteNote: Other sections of this code may also specify interest costs that are ineligible for reimbursement, such as ss. NR 747.12 (3) (c) and 747.30 (2) (i) and (j). NR 747.305(1)(c)1.1. The following maximum rates are established for loans secured after January 31, 1993, and before October 15, 1997, for the purposes of a remediation: NR 747.305(1)(c)1.b.b. Loan origination fees from the same lender shall be reimbursable only once, and at no more than 2 points of the loan principal. Where a later, larger loan is obtained to pay off a preceding loan, the origination fee for the portion of the later loan that equals the preceding principal will not be reimbursed. A duplicative loan origination fee from a subsequent lender will not be reimbursed, unless the preceding loan was terminated by a different lender. NR 747.305(1)(c)2.2. The following maximum rates are established for loans secured on or after October 15, 1997, for the purposes of a remediation: NR 747.305(1)(c)2.b.b. Loan origination fees from the same lender shall be reimbursable only once, and at no more than 2 points of the loan principal. Where a later, larger loan is obtained to pay off a preceding loan, the origination fee for the portion of the later loan that equals the preceding principal will not be reimbursed. A duplicative loan origination fee from a subsequent lender will not be reimbursed, unless the preceding loan was terminated by a different lender. NR 747.305(1)(d)(d) Annual services fees. Annual loan service fees charged on or before April 20, 1998, shall be reimbursable at no more than 1% of the unreimbursed amount and remaining available loan balance. Annual loan service fees charged after April 20, 1998, shall be reimbursable at no more than 1% of the outstanding unreimbursed loan amount. NR 747.305(1)(e)(e) Documentation. A copy of the loan agreement documenting the interest rate, loan origination fees, and other costs, shall be submitted when requested by the department. NR 747.305(1)(f)(f) Lending agreements. In lieu of the maximum rates specified in par. (d), the department may negotiate agreements with lending institutions to obtain lower rates. The department may solicit proposals from lending institutions to supply loans for PECFA remediations. NR 747.305(1)(g)(g) Other items. In addition to the maximum rates established in par. (c), the following shall apply: NR 747.305(1)(g)1.1. Annual loan service fees shall be charged no more frequently than once annually, and at a rate of no more than 1% on the outstanding balance. NR 747.305(1)(g)2.2. Original and re-estimated loan amounts, to the extent feasible, shall reflect a sound estimate of the cost to perform the remediation. Excessive estimates which result in excessive or unnecessary interest costs may not be reimbursed by the PECFA fund. NR 747.305(2)(2) Minimum loan amounts. A lending institution may unilaterally establish a minimum loan amount of $100,000 or less. Minimum loan amounts of more than $100,000 and loan origination fees on minimum loans of more than $100,000 shall require prior written approval of the department. NR 747.305 HistoryHistory: Cr. Register, February, 1994, No. 458, eff. 3-1-94; r. and recr. (1) (c) to (f), cr. (1) (g), Register, December, 1998, No. 516, eff. 1-1-99; CR 04-058: am. (1) (b) 3. and 4., (c) 1. b., 2. b. and (g) 1., cr. (1) (b) 5. and 6., Register February 2006 No. 602, eff. 5-1-06; correction in (1) (b) 5. made under s. 13.92 (4) (b) 7., Stats., Register October 2013 No. 694. NR 747.31NR 747.31 Incentives for cost-effective remediation. NR 747.31(1)(1) General. The department may make incentives available to responsible parties who use the most cost-effective remediation methods and alternatives or participate in the voluntary bundling of sites for remediation purposes. NR 747.31(2)(2) Incentives. For claimants who participate in the voluntary bundling of sites or for remediations that have approval as closed remedial actions and eligible costs not exceeding $60,000, excluding interest, the claim may receive priority review in the award process. NR 747.325(1)(1) Application. This section applies to all work covered under this chapter, for all occurrences previously or newly reported to the department, that is performed after May 1, 2006, except it does not apply to any of the following: NR 747.325(1)(a)(a) Work for which a reimbursement cap has been determined through the competitive public bidding process established under s. 292.63 (3) (cp), Stats. NR 747.325(1)(b)(b) Work performed as part of an emergency action, within the initial 72 hours after the onset of the need for the action.