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Home > Frequently Asked Questions > Completion of a Water Project Loan  

Frequently Asked Questions: Completion of a Water Project Loan

Title

Completion of a Water Project Loan 

Program Area

Loans & Grants 

Specific Program

Water Project Loan Program 

CWCB Section

Finance 

Question

What do I do when I complete the project?

Answer

When you complete your project, you will need to inform the CWCB that the project has been completed. The CWCB will prepare a "substantial completion letter" and determine the amount of construction interest due (Interest During Construction - IDC), and the amount and date of the first annual payment. IDC is due 10 days after the date of substantial completion.The first annual payment is due one year after the date of substantial completion. Attached to the substantial completion letter will be a copy of the IDC calculation, amortization schedule, and a copy of the promissory note.
Attachments
Created at 6/30/2010 2:57 PM  by System Account 
Last modified at 6/30/2010 2:57 PM  by System Account