261—405.5(15) Eligible and ineligible costs.
	405.5(1) Eligible costs. Examples of eligible costs include:
	a. 	Real and personal property comprising a project;
	b. 	Materials and equipment required for necessary site preparation, construction and installation of a project;
	c. 	Labor for site preparation, construction and installation of a project. Only labor that is performed by a third party such as an independent contractor will be considered an eligible cost.
	405.5(2) Ineligible costs. Examples of ineligible costs include:
	a. 	Feasibility studies;
	b. 	Permits;
	c. 	Administrative costs not associated with site preparation, construction and installation of a project;
	d. 	Costs incurred prior to the board’s approval of a loan;
	e. 	Interconnection costs;
	f. 	Costs associated with maintenance, operation or repair of a project; and
	g. 	Other costs that the board determines to be ineligible.
[ARC 4263C, IAB 1/30/19, effective 3/6/19]