Iowa Administrative Code
Agency 261 - Economic Development Authority
Part III - Community Development Division
Chapter 49 - Historic Preservation and Cultural and Entertainment District Tax Credits
Rule 261-49.10 - Part 1 Application-evaluation of Significance

Universal Citation: IA Admin Code 261-49.10

Current through Register Vol. 47, No. 6, September 18, 2024

The Part 1 application is used to determine whether the property is eligible to be a qualified rehabilitation project.

(1) Types of property that are eligible. The property must meet the federal standards for historical significance.

(2) Proof of status as eligible taxpayer. The Part 1 application may be submitted to the authority by an eligible taxpayer as described in rule 261-49.9 (404A).

a. To prove the applicant is the fee simple owner, the applicant will be expected to provide title documentation. If the title is held in the name of an entity, the application must be accompanied by documentation which indicates that the signatory is the authorized representative of the entity.

b. If the applicant is not the fee simple owner but plans to apply for the federal rehabilitation credit, the applicant must provide a copy of the approved federal Part 1 application, unless the property is individually listed on the National Register of Historic Places. The applicant must also certify that the applicant plans to apply and expects to qualify for the federal credit, and the applicant must provide proof of permission from the fee simple owner as described in subrule 49.9(2).

(3) Submission period. Part 1 applications may be submitted year-round.

(4) Required information. Applicants must provide the authority a site plan, pre-rehabilitation photographs of the property, a copy of the county assessor's statement for the property, and such other information as the authority may require.

(5) Review process. The authority, in consultation with SHPO, will evaluate the appearance and condition of the building and verify the information provided by the applicant. The authority will notify the applicant if the Part 1 application is incomplete. Generally, the authority will review fully completed Part 1 applications within 90 calendar days of receipt. The 90-day review period will be adhered to as closely as possible; however, it is not mandatory. If the application is incomplete when submitted or if for any other reason the authority must request additional information, the 90-day review period will restart when the requested information is received by the authority. The application may be rejected if any requested information is not provided.

(6) Response from the authority. Upon completion of the review, the authority shall issue a determination regarding whether the property meets the requirements to be considered historically significant.

(7) Period of validity. A determination that the property meets the requirements to be considered historically significant shall be valid for five years from the issuance of the determination, provided that the property is maintained in a manner consistent with the federal standards and that the fee simple owner of the property remains the same during such period. Changes to the property that are not approved by the authority shall automatically invalidate the determination of historical significance, and reestablishment of the historical significance of the property as well as submittal of a new Part 1 application for a determination that the property is eligible shall be required.

(8) Amendments. An applicant shall amend an approved Part 1 application if the property changes ownership or if the applicant's name or address changes prior to submission of a Part 2 application.

Disclaimer: These regulations may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.