Iowa Administrative Code
Agency 261 - Economic Development Authority
Part IV - Business Development Division
Chapter 65 - Brownfield and Grayfield Redevelopment
Rule 261-65.2 - Definitions
As used in these rules, unless the context otherwise requires, the definitions in Iowa Code section 15.292 shall apply to this chapter. The following definitions shall also apply:
"Abandoned public building" means a vertical improvement constructed for use primarily by a political subdivision of the state for a public purpose and whose current use is outdated or prevents a better or more efficient use of the property by the current owner. "Abandoned public building" includes vacant, blighted, obsolete, or otherwise underutilized property.
"Acquisition" means the purchase of brownfield or grayfield property.
"Advisory council" means the brownfield redevelopment advisory council as established in Iowa Code section 15.294 consisting of five members.
"Affiliate" or "affiliated entity" means any entity to which one or more of the following applies:
1. The entity directly, indirectly, or constructively controls another entity.
2. The entity is directly, indirectly or constructively controlled by another entity.
3. The entity is subject to the control of a common entity. A common entity is one which owns directly or individually more than 10 percent of the voting securities of the entity.
"Authority" means the economic development authority.
"Board" means the members of the economic development authority board appointed by the governor and in whom the powers of the authority are vested pursuant to Iowa Code section 15.105.
"Brownfield site" means an abandoned, idled, or underutilized industrial or commercial facility where expansion or redevelopment is complicated by real or perceived environmental contamination. A brownfield site includes property contiguous with the property on which the individual or commercial facility is located. A brownfield site shall not include property which has been placed, or is proposed for placement, on the national priorities list established pursuant to the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), 42 U.S.C. 9601 et seq.
"CERCLA" means Comprehensive Environmental Response, Compensation, and Liability Act as defined at 42 U.S.C. 9601 et seq.
"Characterization" means determination of both the nature and extent of contamination in the various media of the environment.
"Community" means a city or county, or an entity established pursuant to Iowa Code chapter 28E.
"Contaminant" means any hazardous substance found in the various media of the environment.
"Council" means the brownfield redevelopment advisory council, as established in Iowa Code section 15.294.
"Fund" means the brownfield redevelopment fund established pursuant to Iowa Code section 15.293.
"Grant" means the donation or contribution of funds with no expectation or requirement that the funds be repaid.
"Grayfield site" means an abandoned public building or an industrial or commercial property that meets all of the following requirements:
1. Infrastructure on the property is outdated or prevents an efficient use of the property, including vacant, blighted, obsolete, or otherwise underutilized property.
2. Property improvements and infrastructure are at least 25 years old and one or more of the following conditions exist:
* Thirty percent or more of a building located on the property is available for occupancy and has been vacated or unoccupied for at least 12 months;
* Assessed value of improvements on the property has decreased by 25 percent or more;
* The property is used as a parking lot;
* Improvements on the property no longer exist.
"Green development" means development which meets or exceeds the sustainable design standards as established by the state building code commissioner pursuant to Iowa Code section 103A.8B.
"Hazardous substance" means "hazardous substance" as defined in 567-Chapter 137 and includes petroleum substances not addressed in 567-Chapter 135.
"Loan" means an award of assistance with the requirement that the award be repaid, and with term, interest rate, and any other conditions specified as part of the award. A deferred loan is one for which the payment of principal or interest, or both, is not required for some specified period. A forgivable loan is one for which repayment is eliminated in part or entirely if the borrower satisfies specified conditions. A loan guarantee is a third-party commitment to repay all or a portion of the loan in the event that the borrower defaults on the loan.
"Political subdivision" means a city, county, township, or school district.
"Previously remediated or redeveloped" means any prior remediation or redevelopment, including development for which an award of tax credits under this chapter has been made.
"Qualifying investment" means costs that are directly related to a qualifying redevelopment project and that are incurred after the project has been registered and approved by the board. "Qualifying investment" only includes the purchase price, the cleanup costs, and the redevelopment costs.
"Qualifying investor" means an applicant who has been accepted by the department to receive a redevelopment tax credit.
"Qualifying redevelopment project" means a brownfield or grayfield site being redeveloped or improved by the property owner. "Qualifying redevelopment project" does not include a previously remediated or redeveloped brownfield or grayfield site.
"Redevelopment" means construction or development activities associated with a qualifying redevelopment project that are undertaken either for the purpose of constructing new buildings or improvements at a site where formerly existing buildings have been demolished or for the purpose of rehabilitating, reusing or repurposing existing buildings or improvements. Redevelopment typically includes projects that result in the elimination of blighting characteristics as defined by Iowa Code section 403.2.
"Redevelopment tax credits program" means the tax credits program administered pursuant to Iowa Code sections 15.293A and 15.293B.
"Remediation" includes characterization, risk assessment, removal and cleanup of environmental contaminants located on and adjacent to a brownfield site. Funding awards used for remediation must comply with appropriate Iowa department of natural resources requirements and guidelines.
"Risk evaluation" means assessment of risks to human health and environment by way of guidelines established in 567-Chapter 137.
"Sponsorship" means an agreement between a city or county and an applicant for assistance under the brownfield redevelopment program in which the city or county agrees to offer assistance or guidance to the applicant. Sponsorship is not required if the applicant is a city or county.
"Sustainable design" means construction design intended to minimize negative environmental impacts and to promote the health and comfort of building occupants including, but not limited to, measures to reduce consumption of nonrenewable resources, minimize waste, and create healthy, productive environments. Sustainable design standards are also known as green building standards pursuant to Iowa Code section 103A.8B.
"Vertical improvement," "improvement" or "improved" means the same as defined in Iowa Code section 15J.2.
