The department shall develop a loan application form for an investigating site contamination program loan and shall include, in the form, any provisions that the department considers to be appropriate. The application form shall be signed by the loan applicant and shall be submitted to the department with all of the following documentation:

(a) The phase I environmental assessment for the property that is the subject of the loan application.

(b) Information that demonstrates that the property is a brownfield or an underutilized property.

(c) If the owner of the property that is the subject of the loan application is not the loan applicant, one of the following:

(1) Documentation that demonstrates that the owner consents to the performance of the preliminary endangerment assessment of the property.

(2) A copy of an agreement between the property owner and the loan applicant that gives the loan applicant an option to purchase the property.

(3) If the loan applicant is a local government entity, or a developer or prospective purchaser acting together with a local government entity pursuant to an enforceable agreement, a demonstration to the department that the local government entity, or developer or prospective purchaser acting together with the local government entity pursuant to an enforceable agreement, has legal access to perform the preliminary endangerment assessment at the property, or will have legal access, prior to receiving loan funds.

(d) Any other information the department deems necessary.

(Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.)