Iowa Administrative Code
Agency 265 - Iowa Finance Authority
Chapter 29 - Disaster Recovery Housing Assistance
Rule 265-29.2 - Operation of Program With Local Program Administrators
Current through Register Vol. 47, No. 13, December 25, 2024
(1) Local program administrators. For purposes of this chapter, "local program administrator" means any of the following:
(2) Agreements with local government administrators. The authority will enter into agreements with local program administrators working in disaster-affected counties for the purpose of reviewing applications for disaster recovery housing assistance and determining whether applicants are eligible for assistance under the program.
(3) Review of requests for assistance. To be considered for a forgivable loan or grant under the program, a homeowner or renter must register for the disaster case management program established pursuant to Iowa Code section 29C.20B. The disaster case manager may refer the homeowner or renter to the appropriate local program administrator. If referred by disaster case managers, homeowners and renters will submit applications to local program administrators in the manner prescribed by the authority. Local program administrators shall accept and review each application. The authority may award a forgivable loan or grant after a local program administrator has determined the following:
(4) Administrative fees. The authority shall not use more than 5 percent of the moneys in the fund on July 1 of a fiscal year for purposes of administrative costs and other program support during the fiscal year. The authority may share a portion of the funds reserved for its administrative costs with local program administrators to reimburse their administrative costs.
(5) Proceeds of repayments. All loan amounts repaid to the authority by an eligible homeowner pursuant to this chapter shall be returned to the disaster recovery housing assistance fund created in Iowa Code section 16.57B.