Section 367.730  Agreement Period

a)         Phase I Studies

            Financial assistance agreements for Phase I studies shall have a maximum term of 36 months.  The lake owner may, however, apply to the Agency in writing for a no-cost time extension of up to six additional months.

b)         Phase II Implementation

            Financial assistance agreements for Phase II implementation projects shall have a maximum term of 60 months.  The lake owner may, however, apply to the Agency in writing for a no-cost time extension of up to 12 additional months.

c)         LQMP Implementation

            Financial assistance agreements for LQMP implementation shall have a maximum term of 18 months.  A lake owner may apply to the Agency in writing for a no-cost time extension of up to six additional months in cases where seasonal or other physical lake conditions prevent completion of the project within an 18-month period.