I. There is established the child day care loan program to provide low interest loans for nonprofit child day care providers. The primary purposes of these low interest loans include:
(a)To construct wheelchair and handicap access ramps, van conversions, and bathroom renovations to accommodate children with disabilities.
(b)To pay for expansion or construction costs to serve more children under the state voucher program for low-income families to meet the expected increase of families receiving temporary assistance to needy families entering the work force.
(c)To renovate or upgrade current facilities to maintain or exceed code requirements.
(d)To renovate or expand facilities to serve priority populations, such as infants and toddlers, and families in need of night, weekend, drop-in,
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I. There is established the child day care loan program to provide low interest loans for nonprofit child day care providers. The primary purposes of these low interest loans include:
(a) To construct wheelchair and handicap access ramps, van conversions, and bathroom renovations to accommodate children with disabilities.
(b) To pay for expansion or construction costs to serve more children under the state voucher program for low-income families to meet the expected increase of families receiving temporary assistance to needy families entering the work force.
(c) To renovate or upgrade current facilities to maintain or exceed code requirements.
(d) To renovate or expand facilities to serve priority populations, such as infants and toddlers, and families in need of night, weekend, drop-in, and mildly-ill care.
(e) To allow after-school programs to expand and purchase startup supplies, including storage, for school-age children.
(f) To enable child day care providers to secure a more stable environment and continuity of services through ownership or extended lease arrangements.
(g) To allow the purchase or lease of vans to transport children.
(h) To fund any other program-related costs as necessary.
II. Criteria for consideration of loan applicants shall include the provider's commitment to enroll low-income children, children subsidized through the Child Care and Development Fund, and children with disabilities, or legally-operating providers who provide services to these populations. In addition, applicants shall:
(a) Be fiscally sound as shown in a financial statement.
(b) Meet or exceed state and local operating and zoning regulations, including public health, fire, and safety requirements, or present a local exemption from regulations.
(c) Demonstrate a commitment to providing quality child day care through one or more of the following:
(1) Local child care resource and referral relationship.
(2) Family day care support group participation.
(3) Enrollment in the United States Department of Agriculture food program (Child and Adult Food Program).
(4) Documentation of training in the Child Care Basics program or other training approved by the department of health and human services.
(d) Address a geographic or community need for projected child day care services.
III. (a) The department of health and human services may, after consultation with the state child care advisory committee established in RSA 126-A:17, adopt rules pursuant to RSA 541-A, relative to the implementation and administration of the child day care loan program under this section.
(b) The department shall have the responsibility for notifying providers of the availability of the loans and shall provide guidelines for loan application. Notification shall be made publicly, as well as through child care associations and the child care resource and referral network of New Hampshire.
(c) The department of health and human services shall have the authority to designate a statewide, nonprofit community development financial institution as recipient of the funds, or a portion of the funds, to be used as a loan loss reserve or interest subsidy, or both.
(d) The department may elect to contract with a statewide, nonprofit community development financial institution for provision of the following services:
(1) To establish programmatic and credit criteria.
(2) To establish a mechanism for making lending decisions related to project feasibility.
(3) To maintain documentation on the borrower's organization, collateral, and on-going repayment ability.
(4) To collect and report the number of day care slots retained, created, or improved and the number of low-income families served through the child day care loan program or related activities.
IV. The terms and conditions of the loan shall be contained in a binding agreement between the child day care provider and the lender and may include provisions for a lien on the property. Loans subsidized by an interest-rate subsidy shall carry a term of no more than 15 years and shall, to the extent possible and consistent with this section, be determined to match the useful life of the improvements funded by the loan. The department shall annually, on or before July 1, account for any subsidy or loss reserve expended, as well as for the repayment status of all loans made under this program.