Decisions on Loans and Subgrants

Decisions on Loans and Subgrants A. Decisions on Loans and Subgrants 1) The approval of a loan or subgrant shall be based on a complete financial application that must be submitted in a format prescribed by MDEQ. Prior to approval, the financial application must be complete and must contain all information required by MDEQ, including, but not limited to, information necessary to demonstrate the following: i. That the Brownfield Party is financially viable to repay the loan or manage a subgrant for the duration of the agreement, ii. That the Brownfield Party has or can obtain the financial, managerial, and technical resources in addition to the loan or subgrant to implement fully and complete the proposed remediation, iii. That the Brownfield Party demonstrates the programmatic capability to meet all state and federal regulations required under the Act, these regulations, and CERCLA §104(k) (as amended) terms and conditions, iv. That all items contained in the financial application have been addressed by either providing the required information or stating that the item is not applicable. If an item is considered not applicable, the Brownfield Party must include a written justification in the financial application that demonstrates to the satisfaction of MDEQ that the item is not applicable to the financial application, and v.