Section 5.04. Financial assistance.

 

(1)  All Wisconsin employers, public agencies, or any combination thereof with a combined total of 15 or more employes are eligible to apply for financial assistance for the purchase of vans and implementation of rideshare programs. For purposes of this chapter, educational institutions above the high school level shall also be considered eligible applicants for commuting purposes by students, faculty and staff.

(2)  To the extent that FHWA federal-aid funds are available for rideshare program purposes, approved applicants shall be offered interest-free, capital loans for up to 75% of van purchase costs. The loans shall be repaid on a quarterly basis over a four-year period with each payment equal to at least 1/16 of the total loan.

(3)  All vans shall meet the specifications as the department may prescribe to be eligible for the loan provisions of this chapter.

(4)  All loans shall be issued on a reimbursement basis following a proof of purchase review by the department.

(5)  To the extent that FHWA federal-aid funds are available for rideshare program purposes, loan recipients may be offered administrative grants not to exceed $500.00 per loan-assisted van. The grants shall be matched with a 25% cash or in-kind recipient share.

History: Cr. Register, April, 1982, No. 316 , eff. 5-1-82.