Iowa Administrative Code
Agency 261 - Economic Development Authority
Part IV - Business Development Division
Chapter 65 - Brownfield and Grayfield Redevelopment
Rule 261-65.5 - Repayment to Economic Development Authority

Under the brownfield redevelopment program only, upon the subsequent sale of the property by an applicant to a person other than the original owner, the applicant shall repay the authority for financial assistance received by the applicant. The repayment shall be in an amount equal to the sales price less the amount paid to the original owner pursuant to the agreement between the applicant and the original owner The repayment amount shall not exceed the amount of financial assistance actually disbursed to the applicant by the authority.