Iowa Admin. Code r. 261-51.4

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

Rule 261-51.4 - Application submittal and review process

(1) The authority will develop a standardized application process and make information on applying available on the authority's website. To apply for assistance under the program, an eligible business shall submit an application to the authority in the form and manner prescribed by the authority.

(2) Applications will be accepted only during established application periods as announced on the authority's website. Applications will be reviewed in the order received by the authority.

(3) The authority may refuse to accept incomplete applications or may refuse to accept applications because of insufficient funds.

(4) A scoring committee will consider, evaluate, and recommend applications for financial assistance under the program. The committee will review applications for financial assistance and score the applications according to the criteria described in subrule 51.5(2).

(5) Applications that are recommended for funding by the committee will be forwarded to the board for final approval.

(6) The maximum amount of financial assistance awarded to an eligible business for all applications under the program shall not exceed $100,000.

(7) Successful applicants will be notified in writing of an award of financial assistance, including any conditions and terms of the award.

Iowa Admin. Code r. 261-51.4

Adopted by IAB October 6, 2021/Volume XLIV, Number 7, effective 9/17/2021

Amended by IAB November 16, 2022/Volume XLV, Number 10, effective 10/21/2022

Amended by IAB November 15, 2023/Volume XLVI, Number 10, effective 12/20/2023