September 1, 2023
The Iowa SRF recently introduced updates to their loan application process. Prior to submitting a loan application, SRF borrowers must meet the following program requirements:
- Construction Permit(s) issued by DNR Project Manager for all project phases to be funded by the SRF loan
- Environmental Clearance issued by SRF Environmental Review Staff
- Project Bid and Bid Documents (including signed SRF Front-End Documents) submitted to DNR
- Opinion of legal counsel certifying compliance with Iowa public bidding laws
- SRF Eligibility Letter issued by SRF Project Compliance Specialist
- Pro Forma Financial Analysis completed by a registered municipal advisor identifying all outstanding parity obligations and demonstrating system revenues can meet loan requirements
Note: Item #3 - The bid document submission checklist and SRF Front-End documents have been revised so be sure to use the most recent version available here on our website.
Note: Item #4 - This is a new requirement that applies to any SRF loan applications submitted on or after July 1st, 2023.
For questions or additional information, please contact Amy Seyffer.