Limits

1. To be eligible for a loan to renovate a nursing facility, basic care facility, or assisted living facility, an entity shall provide at least ten percent of the total cost of renovation. Loan funds available for renovation are limited to the lesser of one million dollars or ninety percent of the actual cost of renovation. 2. Grant funds are payable upon receipt of a claim or submission of a cost report identifying expenses incurred. An entity shall request grant funds within six months after incurring the cost, except when requesting grant funds for operating losses. Grant funds awarded for operating losses are payable on a quarterly or yearly basis upon submission of a cost report. If reimbursement is requested on a quarterly basis, the amount reimbursed for the first three quarters may not exceed ninety percent of the total amount of the grant awarded for the first-year operating loss. A final cost report must be filed no later than eighteen months following the start of operation for final reimbursement. Grant funds reimbursed in excess of the allowable first-year operating loss must be refunded to the department within thirty days of notification by the department to the entity. In addition to other remedies provided by law, the department may deduct the amount of any refund due from an entity from any money owed by the department to the entity or the entity's successor in interest. 3. The department may not pay grant funds or approve loans for costs incurred by an entity for services or items furnished by a related organization that exceed the lower of: a. The cost to the related organization; b. The amount charged the entity by the related organization; or c. The price of comparable services, facilities, or supplies purchased elsewhere primarily in the local market.