ࡱ> .0-'` Cbjbj .C    p r r r r r r $ hp       "p  p     zK R p 0  J   Xh yT    $ IMPORTANT INFORMATION AMERICAN RECOVERY AND REINVESTMENT ACT Updated October 1, 2009 The American Recovery and Reinvestment Act of 2009 (ARRA), the long awaited stimulus bill, was signed into law by President Obama on February 17, 2009. The bill contains $787billion in federal funding for a wide range of purposes, from tax cuts to infrastructure spending. Included is an additional $2 billion in capitalization for Drinking Water Revolving Funds (DWRF) administered by the states, of which Michigan has received $67,454,000. These funds will provide Michigan with the ability to tender more loans through the DWRF and provide additional subsidy (principal forgiveness for 40 percent of a projects cost). Stimulus funds will have to be utilized within the current structure of the DWRF and there are additional requirements that apply to projects funded by the ARRA. The ARRA requires the states, if sufficient project applications are submitted, to use at least 20 percent of its ARRA capitalization for projects to address green infrastructure, water or energy efficiency improvements of other environmentally innovative projects. To meet this requirement, and to further the MDEQs desire to encourage the integration of these practices into water and wastewater infrastructure, qualifying DWRF projects were actively solicited. A number of projects with green reserve qualifying components currently have applications in process. Projects seeking assistance from stimulus funds channeled through the DWRF first have to appear on Michigans Project Priority List (PPL) and Intended Use Plan (IUP). In order to be included in Michigans FY 2010 PPL and IUP, a municipality had to submit to the MDEQ on or before May 1, 2009, a final project plan that provides a comprehensive evaluation of drinking water system needs for a 20-year planning period. Michigan obligated over $34 million of its DWRF ARRA allotment to 12 projects that appeared on the FY 2009 PPL, including over $7 million to green reserve qualifying projects. Seventeen additional projects from the FY 2010 PPL are currently advancing through the application process seeking 1st Quarter loans (January 2010 loan closing) in the hopes of capturing principal forgiveness from Michigans remaining ARRA resources. This announcement will be updated as additional information is available. V   ? oq@BC hErh(h(h(H*h6hbh(h(B*ph=UVk l l m IJABCgdb$a$gdbC,1h/ =!"#$% @@@ Z9NormalCJ_HaJmH sH tH DA@D Default Paragraph FontRi@R  Table Normal4 l4a (k@(No ListC =UVkllmIJA B E 00000000000000000llmE 0PJ00s0 C C C 8@0(  B S  ? stu<`v<w x| yz\F{|dP//,ii|JJE  77/qqRRE  ?*urn:schemas-microsoft-com:office:smarttags stockticker9 *urn:schemas-microsoft-com:office:smarttagsState9 *urn:schemas-microsoft-com:office:smarttagsplace ,{   E N  E 33333<ET'*+,?HB E E 1C(Z9Q*; `Ba6L=|A>1bO: "@֚ C @UnknownG: Times New Roman5Symbol3& : Arial"qhb&d&aa $24d? ? 2HX)?(2IMPORTANT INFORMATIONKINNEYDKINNEYDOh+'0  0< \ h t IMPORTANT INFORMATIONKINNEYD$deq-ess-mfs-dwrf-ARRALanguage1.dotKINNEYD4Microsoft Office Word@^в@@3HK@yKa՜.+,0  hp  State of Michigan? ' IMPORTANT INFORMATION Title  !"#$&'()*+,/Root Entry FpbzK1Data  1TableWordDocument.SummaryInformation(DocumentSummaryInformation8%CompObjq  FMicrosoft Office Word Document MSWordDocWord.Document.89q