Activities eligible for assistance

Amounts from a loan made or guaranteed under section 208 provided for an eligible project may be used for costs of carrying out such project, including costs of— (1) development-phase activities, including planning, feasibility analysis, revenue forecasting, environmental review, permitting, preliminary engineering and design work, and other preconstruction activities; (2) construction, reconstruction, rehabilitation, preservation, and replacement activities; (3) the acquisition of real property (including water rights, land relating to the project, and improvements to land), environmental mitigation, construction contingencies, and acquisition of equipment; (4) capitalized interest necessary to meet market requirements, reasonably required reserve funds, capital issuance expenses, and other carrying costs during construction; and (5) refinancing interim construction funding, long-term project obligations, or a secured loan or loan guarantee made under this title.