Planning and Design Loans

P&D loans are initiated through IFA but the requests must be included on the IUP managed by DNR.
When Applicant submits Planning & Design Loan application to IFA:
  • IFA reviews application and may contact Applicant for additional information if needed.
  • IFA consults with CWSRF or DWSRF Team Leader for eligibility questions.
  • IFA Board of Directors approves application.
  • IFA requests EPA 4700 form and property assurance form from Applicant.
  • IFA sends signed EPA 4700 form to DNR for forwarding to and approval by EPA Region 7.
  • IFA emails a PDF copy of the application to DNR SRF Coordinator, DNR SRF Administrative Assistant (AA), CWSRF or DWSRF Team Leader, and DNR SRF Grant Manager.
  • SRF AA enters the P&D request on the current fiscal year IUP project priority list spreadsheet for inclusion in the next quarterly IUP update. If there is already an IUP application on the list, the P&D loan can be executed before the IUP is approved.
  • SRF AA saves the PDF file in the current fiscal year IUP folder on the SRF shared drive.
Please note: The quarterly deadline for P&D loan applications is typically one month after the quarterly IUP application deadline.
Construction Loan Applications
The loan application is an IFA form.
To complete the loan application process, IFA: 
       Sends a letter to Applicant outlining the loan application process at about the time that the ER is completed.
       When loan application is received, reviews financial information, including 110% debt service coverage, user rates, and other outstanding debt-parity issues.
       Either approves the application or contacts the community to work toward approval.
       Sends a loan commitment letter to Applicant and bond counsel when application is approved, including estimated loan amount.
       Contacts the Applicant (after construction permit issued or earlier as needed) about closing the loan. Provides instructions for contacting bond counsel, public hearing requirements, the disbursement process, and a preliminary debt service schedule.
Extended Term Financing
Extended term financing is currently available for all CWSRF loans and for disadvantaged communities under DWSRF. Extended financing is dependent on the useful life of the facility. The extended term worksheets are now included as part of the construction loan application. IFA will send the completed worksheet to the DNR Project Manager.
DNR Project Manager:
       Reviews Extended Term Financing worksheet (DWSRF or CWSRF) prepared by Consultant based on actual bid costs.
       When approved, DNR Project Manager forwards to IFA for determination of the final loan term.
Supplemental Loans
Supplemental loans may be used when the Applicant needs more funds for the same project. A new IUP application is required.
When a supplemental loan is requested:
       DNR Project Manager reviews information for eligibility and inclusion in project scope, and consults with ER Specialist on inclusion in FNSI or CX.
       DNR Project Manager sends letter to Applicant, with copy to IFA and SRF AA, with determination.
       SRF AA enters information into W/Wisard with an 02 or (2) SRF number and enters on current IUP year project list spreadsheet.
       IFA may work with Applicant to close loan before IUP is approved.