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Kentucky Infrastructure Authority 101

Join us at the Annual Governor's Local Issues Conference on August 19, 2019, to learn about the Kentucky Infrastructure Authority (KIA), its funding process, and how to qualify for funding. Explore project profiles and discover the important role of Water Resource Information System (WRIS) in project funding.

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Kentucky Infrastructure Authority 101

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  1. Kentucky Infrastructure Authority 101 Annual Governor’s Local Issues Conference August 19, 2019 Donna McNeil – Executive Director Ashley Adams – Financial Analyst Linda Bridwell – Deputy Executive Director

  2. KIA 101 • Overview of KIA -- Donna McNeil • KIA Process to Qualify for Funding -- Ashley Adams • Your Loan’s approved – What’s Next? -- Linda Bridwell

  3. KIA 101 – Overview of KIA • Created by General Assembly • Mandates: • Provide Assistance for Water Services • Maintain Water Resources Information System • Gather Water Resource data for development and management • Promulgate regulations for borrowers’ financial, managerial and technical information

  4. KIA 101 – Overview of KIA • $1.4 billion in assets (January 1, 2019) • Administering 34 grants • Over 600 active loans • 4 programs • 2 state programs, 2 federal programs • 239 borrowers

  5. KIA 101 Project Conception to the KIA Board

  6. Eligible SRF Projects • Water and wastewater treatment plant construction and rehabilitation • Collection and distribution system construction and rehabilitation • Regionalization • Stormwater • Nonpoint source projects • Much more!

  7. Project Profiles • Housed within Water Resource Information System (WRIS) • WRIS.KY.GOV • Contains all project details including description, budget, schedule, contacts, GIS mapping, etc. • Maintained by Area Development Districts (ADDs) and KIA Staff • Starts with the Profile Pre-App and respective SRF Guidance Documents found on the WRIS page • Single most important piece of the project funding puzzle

  8. Pre-app and Guidance Documents

  9. Water Management Councils • Located at each Area Development District (ADD) • Regional planning duties • Regional rankings

  10. SRF Call for Projects • Annually from October – December • Profiles should have already been created and ranked by Water Management Councils • Profiles should be treated like final applications for funding so that they can be properly scored and ranked by DOW

  11. DOW Scoring and Ranking • Occurs after Call for Projects closes • Projects are scored based on the criteria set forth in the CWSRF and DWSRF Guidance Documents • Evaluated for technical, managerial, preliminary financial capacity • After projects are assigned scores, they are ranked in numeric order and become two SRF Project Priority Lists

  12. Intended Use Plans (IUPs) • Two separate plans for how KIA plans to use the funds allotted from EPA, one for CWSRF and another for DWSRF: • General Program Information and Overview • Federal Requirements • Schedule • Invitation Process • Financial Terms of Loans • Funds Available • Project Priority List • Contact Information

  13. Loan Invitations • Electronic invitations are sent via email to project contacts identified in the Project Profile • Fund F (DWSRF): Must be funded in priority order • Fund A (CWSRF): Can be funded in any order, traditionally KIA has funded in priority order • KIA will continue with subsequent invitation rounds until all funds have been allotted to projects ready to proceed

  14. Loan Applications • After electronic invitation has been accepted borrowers will receive instructions on how to apply as well as deadlines • Applications are also electronic and populated from data housed in the WRIS Project Profile and System Data – all maintained by the ADDs • Project profiles must be brought up to date with the ADDs to complete an application – the more thought put into them to begin with is the less work done at application time THIS IS WHY PROJECT PROFILES ARE SO IMPORTANT

  15. Financial Analysis & App Review • Application/profile review email is usually first point of contact from a KIA analyst • Looking for loan package completion • Profile up to date? • Board schedule planning and organization • 5 year forecast is based on the most recently audited numbers • Must have 3 most recent years of audits

  16. KIA Board Approval • Board schedules are based on project schedules and maintaining workflow balance at KIA • Schedule accuracy is very important because of loan commitment time period (1 year) • KIA Board usually meets monthly • Project presentations made by analysts with borrower representatives in attendance to field additional questions • Binding Commitment Letter issued after board approval

  17. KIA 101 Board Approval – Project Closeout

  18. KIA 101 – Your Loan is approved – What’s Next? • Capital Projects and Bond Oversight Committee approval • Project Regional Compliance Coordinator • Debbie Landrum – Lincoln Trail, KIPDA, Northern Kentucky, Bluegrass • Sarah Parsley – Buffalo Trail, Gateway, FIVCO, Big Sandy, Kentucky River, Cumberland Valley • Julie Bickers – Purchase, Pennyrile, Green River, Barren River, Lake Cumberland • Secure co-funding (grants, local funds, Rural Development, ARC, CDBG)

  19. KIA 101 – Your Loan is approved – What’s Next? • Execute Assistance Agreement with KIA (3 -12 months) • Environmental Review (includes E-Clearinghouse) • Plans Review by DOW • Rate increase required? Needs to be effective • Bid the project • Do you need an increase due to bid amount? • You cannot receive any money from the KIA until this Assistance Agreement is executed

  20. KIA 101 – Your Loan is approved – What’s Next? • Receive Authority to Award from the Division of Water • Clear site certification (do you have all the easements?) • Borrower executes construction contract NOW THE FUN BEGINS!!

  21. KIA 101 – Your Loan is approved – What’s Next? • Submit monthly draws for money based on construction invoices • Certify Davis-Bacon prevailing wages are being paid • Certify Disadvantaged Business Enterprises are being utilized as approved • Certify American Iron and Steel compliance is met • Division of Water will conduct at least two inspections

  22. KIA 101 – Your Loan is approved – What’s Next? • Project winds down – contractor finishes up • Certification of Operations • Release of liens • Final draw • Begin repayment of the loan • Any principal forgiveness will be applied to the loan • Amortization schedule will be sent for signature

  23. KIA 101 – Your Loan is approved – What’s Next? • Submit all Closeout Documentation • Submit Annual Financial Audits • Problems?

  24. KIA 101 Questions??? Website: http://kia.ky.gov

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