Current through Register Vol. 47, No. 6, September 18, 2024
(1)
Amount, form, and timing of assistance.
a. The program provides financial assistance
to cities for the redevelopment or remediation of underutilized buildings. The
amount of assistance awarded will be determined by the authority based on the
total amount of funds available to the authority for the program and based on
the project details. Each applicant shall receive no more than one grant per
project per fiscal year. The maximum grant amount per applicant per fiscal year
shall not exceed $100,000. If an applicant received a technical assistance
grant under paragraph 45.3(2)"b," the amount of the financial
assistance for redevelopment or remediation plus the amount of the technical
assistance grant shall not exceed the maximum grant amount of
$100,000.
b. In providing grants
under this chapter, the authority shall allocate 40 percent of the moneys
available at the beginning of each fiscal year to funding grants to cities with
populations of less than 1,500 as shown by the most recent federal census. If
at the end of each application period the amount of grants awarded to cities
with a population of less than 1,500 is less than the amount allocated to such
grants under this rule, the balance may be awarded to any approved applicant,
regardless of city population.
(2)
Application.
a.
Forms. All applications
and other filings related to the program shall be on such forms and in
accordance with such instructions as may be established by the authority.
Information about the program, the application, and application instructions
may be obtained by contacting the authority or by visiting the authority's Web
site:
Iowa Economic Development Authority
Community Development Division
200 East Grand Avenue, Des Moines, Iowa 50309
(515)725-3000
http://iowaeconomicdevelopment.com/
b.
Preapplication. An application may not be submitted to the
authority until a preapplication has been submitted to the authority and the
authority has approved submission of the application. A preapplication may be
submitted to the authority at any time. Following the receipt of a
preapplication, the authority may offer technical assistance, including
technical assistance grants up to $5,000 per applicant per fiscal year. The
purpose of such technical assistance and technical assistance grants shall be
to ensure a complete application that is sufficiently detailed to enable the
authority to make a determination. The authority reserves the right to deny an
application if the applicant's preapplication was submitted less than 30 days
before the announced application period.
c.
Application period. Each
fiscal year during which funding is available, applications for financial
assistance other than applications for emergency projects submitted pursuant to
paragraph 45.3(2)"e" will only be accepted during the
established application period, or periods, as identified by the authority on
its Web site. The authority will accept applications year-round for emergency
projects submitted pursuant to paragraph 45.3(2)"e."
d.
Complete application
required. An application shall not be considered submitted for review
until the application is completed and all required supporting documentation
and information are provided.
e.
Emergency project applications. Cities that identify projects
which present a unique and immediate threat or opportunity may submit an
application for funding at any time. For purposes of this subrule, a "unique or
immediate threat" includes unforeseen challenges or problems that could result
in catastrophic failure of a building's structural system and overall
integrity. A threat includes various acts of nature, such as flood, fire, or
storm damage, or sudden and unexpected structural failures, such as partial
wall collapse. Deferred maintenance will not be considered an immediate threat.
For purposes of this subrule, a "unique or immediate opportunity" means a
time-sensitive remediation project that is reasonably expected to result in
economic growth. All applications for financial assistance for projects
submitted under this subrule must meet all other requirements of this program
and shall be scored using the same criteria as the criteria that are applied to
applications for financial assistance for projects submitted during the regular
application period.
(3)
Approval of assistance. The authority will review, score, and
recommend applications for financial assistance under the program to the
director. Authority staff will review applications for financial assistance and
score the applications in accordance with subrule 45.4(2). A project that does
not receive funding may reapply.
(4)
Agreement required. The
authority shall enter into an agreement with each applicant for the receipt of
a grant under this chapter. The agreement must state the terms on which the
financial assistance is to be provided. For an applicant to receive grant
moneys under this chapter, the agreement must require the applicant to provide
resources, including financial or in-kind resources, to the remediation
project. The authority may negotiate the terms of the agreement. The applicant
shall execute the agreement before funds are disbursed under the
program.
(5)
Form of
financial assistance. The authority will provide financial assistance
in the form of a grant to the applicant. The amount of the grant and any other
terms shall be included in the agreement required pursuant to this
chapter.
(6)
Use of
funds.
a. An applicant shall use
funds only for reimbursement of the costs directly related to the project. The
authority may require documentation or other information establishing the
actual costs incurred for a project. Failure to use the funds for reimbursement
of the costs directly related to a project shall be grounds for default under
the agreement required pursuant to this chapter.
b. The authority shall coordinate with the
applicant to develop a plan for the use of grant moneys that is consistent with
the community development, housing, and economic development goals of the city.
The terms of the agreement executed pursuant to these rules and the use of
grants provided under this program shall be consistent with the plan
developed.
