(a)

1. (1) State financial participation under the Academic Facilities Partnership Program is not available until July 1 of each year.
2. (2) In allocating funds for state financial participation, the Division of Public School Academic Facilities and Transportation shall set aside funds sufficient to pay the incentives set forth in 6 CAR § 321-109.

(b)

1. (1)

   1. (A) Approved projects not funded in the first year of a program cycle will be moved to the second year of the program cycle and ranked after all of the approved Year 2 projects per 6 CAR § 321-104(e).
   2. (B) No project that is approved but not funded in a program cycle will be moved to the next cycle.

2. (2)

   1. (A) If a project is approved but not funded during a program cycle, a district may submit the identical project for the next funding cycle by sending a written request to the division indicating the current cycle project number and requesting access to the web tool to enter the identical project for the next cycle.
   2. (B) With the exception of the project number, these projects must be identical in every way and a complete submission must be made no later than July 1 of the even-numbered year, which is Year 2 of the funding cycle.
   3. (C) If the project is not funded in the subsequent cycle, the district must complete a new application in accordance with this part by March 1 of the even-numbered year, which is Year 2 of the funding cycle.

(c)

1. (1) With regard to an academic facilities project for which a school district intends to apply for state financial participation, the division shall notify the school district of its final decision on the application and the estimated amount of state financial participation in the new construction project no later than May 1 of each odd-numbered year.

2. (2)

   1. (A) By September of each even-numbered year, the division may notify districts of the approval or disapproval of projects, as well as of the approved square footage, and approved components of a warm, safe, and dry systems replacement project.
   2. (B) Districts wishing to appeal any of the division’s determinations must do so within sixty (60) days of receipt of the division’s determination letter.
   3. (C) Districts may appeal the funding cost factor calculation within sixty (60) days of the Commission for Arkansas Public School Academic Facilities and Transportation’s determination concerning projected funding.
3. (3) The division’s notice of its decision on a school district's application for state financial participation in a new construction project will include an explanation of the evaluation factors underlying the decision of the division to provide or not provide state financial participation in support of the new construction project.

4. (4)

   1. (A) New construction projects, which are newly constructed academic facilities or additions for which a square foot cost would be applicable to all facets of the construction, may qualify for funding in the lesser amount of either:

(b) (b) However, the funding factor shall not increase to more than the maximum funding factor without the approval of the commission; or

1. (ii) Option B, which is the actual construction cost amount multiplied by the difference of one hundred percent (100%) minus the school district’s academic facilities wealth index.

   1. (B) Conversion projects or projects that are building systems or components thereof not covered in subdivision (c)(4)(A) of this section may qualify for funding in the lesser amount of either:

      1. (i)

(b) (b) However, the funding factor shall not increase to more than the maximum funding factor without the approval of the commission; or

1. (ii) Option B, which is the actual construction cost amount multiplied by the difference of one hundred percent (100%) minus the school district’s academic facilities wealth index.