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<br />I. <br /> <br />Discussion <br /> <br />. <br />~ <br /> <br />Attached is a financial statement summarizing the FY1999-00 Construction Fund <br />cash available and projected expenses. Total unreserved cash available for new projects <br />and other expenses is $28,790,920 million, projected expenses are $20,680,600 million <br />leaving a projected balance of $8,110,320 million. Possible additional applications will <br />be discussed at the November Board Meeting, <br /> <br />e <br /> <br />The revenue projected as income to the Construction Fund in 2000 is $16.8 <br />million. Therefore, the Board may recommend up to $840,000 (5.0%) in loans for <br />floodplain projects next year. <br /> <br />In making recommendations to the General Assembly, the Board should be aware <br />of certain criteria and limitations set by statute which are summarized in an attachment to <br />this memo. <br /> <br />Conclusion <br /> <br />As of the date of this memo, it appears sufficient cash will be available to fund the <br />applications shown on the attached list. <br /> <br />e <br /> <br />Attachments <br /> <br />e <br /> <br />Nov99.12b <br />