(a) Application form.

1. (1) Each loan application must include a completed loan application form.
2. (2) Loan applications may include more than one (1) like project.

(b) Approval by the agency’s chief executive officer and other approval.

1. (1) Each agency applicant must certify that the loan proposal has been previously submitted to and approved by its respective executive office and its board or commission as applicable.
2. (2) The name, email address, and telephone number of the applicant's fiscal officer who will be handling the finances of the loan project are also required.

(d) Application obligations.

1. (1) Parties to a loan agreement specifically recognize that loan assistance from the division creates an obligation to maintain the property described in the project agreement consistent within this part and the Sustainable Building Design Program for State Agencies, Arkansas Code § 22-3-1901 et seq.

2. (2) The applicant agrees that the project:

   1. (A) Is being renovated and maintained with loan funds (or that such funds are integral to the project); and
   2. (B) Shall not be converted to a use that would compromise the integrity of the original loan project.
3. (3) By the acceptance of a loan, the agency will give division staff and other state officials the right to inspect the property at all reasonable times to ascertain the agency's compliance with the loan agreement.

(e) Returned funds.

1. (1) If, for some reason, a project is terminated or if actual costs are less than anticipated or if the loan contract date has expired, all remaining unobligated funds will be returned to the division.
2. (2) All such funds shall be reclaimed by the chief fiscal officer and returned back to the Sustainable Building Design Revolving Loan Fund.

(f) Loan extensions.

1. (1) If a loan project is delayed due to conditions beyond the applicant's control, the applicant may request in writing an extension of the project period.
2. (2) No more than one (1) extension of up to one (1) year shall be approved per loan.

(g) Loan submittal.

1. (1) One (1) original and one (1) electronic copy of the loan application will be required, however, only one (1) copy is to be submitted by the stated deadline.

2. (2)

   1. (A) Applicants will be encouraged to contact the Manager for assistance in preparing an application prior to its submittal to lessen the chance for errors.
   2. (B)

(i) After the Manager reviews the application for completeness and accuracy, the applicant will be notified.

1. (ii) Applications which are not completed or where more information is warranted may result in delay of the application process.

   1. (C) After the Manager receives all application documents, they will be forwarded to the Director of the Building Authority Division.

   2. (D)

      1. (i) The completed application will be sent to the Sustainable Building Design Program Review Committee by the Manager.
      2. (ii) The committee will review and make a recommendation to the director regarding approval of the award.
   3. (E) Upon receipt of the committee’s recommendation, the director shall make a determination of the loan award.

   4. (F)

      1. (i) The director may request the applicant make a presentation to explain the loan proposal.
      2. (ii) The presentation will be limited to fifteen (15) minutes per application.
   5. (G) If a proposal is approved, all forms needed to implement the loan will be prepared.