Application Period Open for the Dam Repair and Reconstruction Revolving Loan Program
August 20, 2014
The Maine Emergency Management Agency’s Dam Safety Program is currently accepting applications from municipalities quasi-municipal corporations for the Dam Repair and Reconstruction Revolving Loan Program.
This program allows municipalities and quasi-municipal corporations looking to study, repair or replace a municipally or quasi-municipally owned dam to apply for up to $100,000 in low interest loans in order to fulfill such needs. This program is made possible through the Dam Repair and Reconstruction Fund, established under Maine law (Title 37-B MRSA §1130 ) for municipalities to use for various projects related to dam reconstruction.
Applicants will submit an application to MEMA that will undergo a review process in which the Agency will rank the applications based on 1) hazard potential of the dam, 2) condition and 3) risk for failure. Once a project has been approved by MEMA, the applicant may submit a loan application through the Maine Municipal Bond Bank. The complete rules governing the program are available from the Secretary of State’s State Agency Rules website.
Approximately 105 dams in Maine are owned by municipalities and quasi-municipal entities such as water districts. All eligible applicants will be contacted directly with the details of the financing opportunity. In total, 631 dams in Maine fall under the oversight of the State Dam Safety program.
Applications must be submitted to MEMA by October 15th 2014 at 5:00 PM. Applicants will be notified as to whether or not they are approved by November 7th. Application packets should be submitted to:
Maine Emergency Management Agency
Attn: Dam Safety Program
72 State House Station
Augusta, Maine 04333-0072
Anyone with questions relating to the application rules or processes may contact Mark Hyland at MEMA at (207) 624-4443 or email@example.com.