Iowa Admin. Code r. 261-118.5

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 261-118.5 - Program eligibility and application requirements

To be eligible for financial assistance under the program, an applicant shall meet all of the following requirements:

(1) The applicant must describe in detail the nature, scope, design, and goals of the project, including the relationships of the entities and individuals involved, and in addition, the applicant must explain how the project fulfills the requirements of each of the subrules in this rule. The council and the board will use the description for purposes of scoring the project pursuant to rule 261-1187. (15).

(2) The applicant must propose to develop a commonly utilized asset that either benefits one or more private sector entities or that creates necessary physical infrastructure in the state.

(3) The applicant must propose to develop a project that is not adequately provided by the public or private sectors.

(4) The applicant must propose a project that includes vertical infrastructure improvement developments, facilities and equipment upgrades, or the redevelopment or repurposing of underutilized property or other assets and must describe how and to what extent the project will attract additional public or private sector investment and how the project will result in broad-based prosperity in the state.

(5) The applicant must describe the project's proposed financing structure, including the sources of funds and the proposed uses of the funds, and must propose the manner in which any financial assistance received under the program will be used.

Iowa Admin. Code r. 261-118.5

Adopted by IAB January 21, 2015/Volume XXXVII, Number 15, effective 2/25/2015