(a)

1. (1) The project priority list is an ordered listing, prepared according to the priority system, of projects anticipated to receive loans.
2. (2) All projects eligible for loan assistance must be included on the state's project priority list.
3. (3) Loan assistance may be provided whatever the rank on the state's project priority list based on readiness to proceed with construction.

(b)

1. (1) The Arkansas Natural Resources Commission staff may revise the project priority list according to provisions in 15 CAR § 26-205 as necessary to manage the Construction Assistance Revolving Loan Fund efficiently.
2. (2) The commission staff shall submit the priority list to the United States Environmental Protection Agency for approval.

(c)

1. (1) If a community not in the priority list seeks funding or the factors for a community on the priority list change, the priority list will be amended to reflect these changes.
2. (2) The result of these changes will not affect communities that have already submitted a preapplication.

(e)

1. (1) All projects will be ranked, and loans will be awarded from the priority list.
2. (2) In any joint project, the combined entities must have problems in common, or both entities must be contributing to an existing water quality violation.

(f)

1. (1) The project cost estimates shown in the priority list are updated from information provided by the entities listed.
2. (2) These estimates will be adjusted based upon final eligibility determinations and changes in project situations at the time of the loan closing.