Sec. 6. Use of assistance
112 words·~1 min read·
/bill/113/s/335/is/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An eligible entity shall only use amounts received under this Act for eligible projects— to carry out— development phase activities, including planning, feasibility analysis, revenue forecasting, environmental review, permitting, and other preconstruction engineering and design work; construction, reconstruction, rehabilitation, and replacement activities necessary for the project; and environmental mitigation and construction contingencies; to acquire real property (including interests in real property) and equipment; to provide for any funding mechanisms necessary to meet market or affordability requirements, reasonably required reserve funds, capitalized interest issuance expenses, and other carrying costs during construction of the project; and to refinance interim construction financing, long-term project obligations, or direct loans or loan guarantees made under this Act.