(1) An approval is valid for one year from the date of issuance. The department may grant a single extension of up to 6 months. (2) The department shall specify the maximum capital expenditure that may be obligated for a project. (3) Any person whose project has been approved under this subchapter shall document in writing, on forms developed by the department, the progress of the project. The person shall submit these forms semiannually until the project is completed. On these forms, the person shall: (a) Identify the project and the approval holder. (b) Specify the date of approval. (c) Describe the stages of the project that are complete. (d) Report on the project’s status, including any deficiencies. (e) Identify any cost overrun and propose changes in the project necessary to reduce costs, so as not to exceed the maximum approved capital expenditure. (f) Estimate the date that uncompleted stages of the project will be completed.
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