8/5/2010 SEWER COMMISSION Minutes

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replaced by the highest ranked proposal(s) on the Project Priority List that is ready to proceed at the time funds are freed up. All projects receiving financial assistance from the SRF will be eligible for subsidized financing or for refinancing of existing debt obligations incurred after March 7, 1985. All projects appearing on the IUP for the first time will be provided a subsidy through a 2% interest loan. Carry-over projects from 2001 or earlier shall carry forward the subsidy level accorded the project at the time of listing. Other projects may have differing subsidy level as provided for by law. 6.0 Project Priority List The Project Priority List, Table 2, includes all proposals received at MassDEP by August 31, 2009 at the full cost of those projects over their duration. All projects submitted for funding are reviewed to assure general conformance with Water Quality Management Plans and other applicable water resource management plans. Eligibility includes consistency with the special conditions described in this document and the requirements contained within MassDEP's financial assistance regulations. Each submission received has been evaluated for impact to public health and environmental protection, and has been ranked, with the highest rated projects included on the IUP. 7.0 Development of the IUP Project Listing With the available capacity of approximately $350 million for the CWSRF program,the Commonwealth intends to provide assistance to those projects on the Final 2010 IUP Project Listing, Table 1. That Project_. Listing was developed based upon the following three-step process: • Rate and rank the projects based on the information submitted by the applicants in accordance with the environmental,public health, and programmatic factors set out in the Commonwealth's priority ranking system. • Evaluate the amount of financing requested by each community including the application of limitation on financial assistance. • Identify the sources and spending limits for available CWSRF funds; and List Planning Projects, MassDEP Priority Projects, Carry-over Projects and New Projects in ranked order that are ready to proceed within the 2010 funding period up to the amount of available CWSRF funding. To be considered for funding,projects must meet State and Federal eligibility requirements, must be ready to proceed during the funding period,must have appropriated local funds necessary to finance the project, and must have a MassDEP-approved planning element. An approvable planning element can be a Project Evaluation Report, Comprehensive Water Resources Management Plan, Long-term CSO Strategy, Stormwater Management Plan, or other MassDEP sanctioned planning document. Eligibility includes consistency with the assurances described in this document and the requirements contained within.MassDEP's financial assistance regulations. Certain projects on the 2010 Project Priority List (Table 2) may have higher priority point totals than the projects on the 2010 IUP Project Listing (Table 1). That occurs