Page:United States Statutes at Large Volume 98 Part 2.djvu/131

 PUBLIC LAW 98-377—AUG. 11, 1984

98 STAT. 1291

(B)(i) the likelihood of release of asbestos fibers into a school environment; (ii) any other evidence of the risk caused by the presence of asbestos including, but not limited to, situations in which there is a substantial quantity of dry loose asbestos-containing material on horizontal surfaces or asbestos-containing material is substantially deteriorated or damaged, and there is asbestoscontaining material in an air plenum or in a high traffic area, confined space or within easy reach of a passerby; (iii) the extent to which the corrective action proposed by the applicant will reduce the exposure of school children and school employees; and (iv) the extent to which the corrective action proposed by the applicant is cost-effective compared to other techniques including management of material containing asbestos. (3) In determining whether an applicant is eligible for assistance, and the nature and amount of financial assistance, the Administrator shall consider— (A) the financial resources available to the applicant as certified by the Governor pursuant to section 504(b)(4); and (B) the report, if any, of the Secretary of Education pursuant to section 504(b)(5). (d) In no event shall financial assistance be provided under this title to an applicant if the Administrator determines that such applicant has resources adequate to support an appropriate asbestos materials abatement program. In making such a determination, the Administrator may consult with the Secretary of Education. (e)(1) An applicant for financial assistance may be granted a loan of up to 100 per centum of the costs of an abatement program or, if the Administrator determines the applicant is unable to undertake and complete an asbestos materials abatement program with a loan, such applicant may also receive a grant (alone or in combination with a loan) not to exceed 50 per centum of the total costs of abatement, in the amount which the Administrator deems necessary. (2) In approving any grant, the Administrator shall state with particularity the reasons why the applicant is unable to undertake and complete the abatement program with loan funds. (f) Loans under this section shall be made pursuant to agreements which shall provide for the following: (1) the loan shall not bear interest; (2) the loan shall have a maturity period of not more than twenty years (as determined by the Administrator) and shall be repayable during such period at such times and in such amounts as the Administrator may specify in the loan agreement; (3) repayment shall be made to the Secretary of the Treasury r for deposit in the general fund; and (4) such other terms and conditions that the Administrator determines necessary to protect the financial interest of the United States. (g)(1) No financial assistance may be provided under this section unless an application has been submitted to the Administrator within the five-year period beginning on the effective date of this title. (2) The Administrator shall not approve an application unless—

Loans. Grants.

Grants.

Loans.

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