Iowa Admin. Code r. 265-40.2
For purposes of this chapter, the following definitions apply.
"Authority" means the Iowa finance authority.
"COG" means an Iowa council of governments as identified by Iowa Code chapter 28H.
"Disaster-affected home " means a primary residence that was destroyed or damaged by the natural disasters of 2010.
"Disaster compensation " means moneys received by an eligible resident as a result of damage caused to the eligible resident's disaster-affected home by the natural disasters of 2010 from any of the following sources:
"Eligible repair expenses " means the reasonable cost of repairing damage to a disaster-affected home necessitated by the natural disasters of 2010. "Eligible repair expenses" shall not include additions to or expansions of a disaster-affected home or the purchase or installation of luxury items that were not part of the disaster-affected home prior to the natural disasters of 2010.
"Eligible resident" means an individual or family who resided in a disaster-affected home that was a primary, owner-occupied residence at the time of the natural disasters of 2010 and who:
In cases where multiple persons own a disaster-affected home together, such as by a tenancy in common or joint tenancy, such persons will generally be deemed collectively to be the "eligible resident," provided the requirements set forth in paragraphs "I" and "2" above are met. In the event that multiple persons assert inconsistent ownership claims of a disaster-affected home, the local government participant shall review the facts and, if necessary, make an allocation among the various applicants.
"FEMA " means the Federal Emergency Management Agency.
"Forgivable loan " means a loan made to an eligible resident pursuant to the requirements of this chapter
"Local government participant" means:
"Natural disasters of 2010" means the severe storms, tornadoes, and flooding that occurred in Iowa beginning June I, 2010, and designated by FEMA as FEMA-I930-DR.
"Program " means the lowans helping lowans housing assistance program described in this chapter
"Retention agreement" means an agreement, to be recorded as a lien against the property for which assistance is provided, requiring that if an eligible resident sells a home that was purchased or repaired with the assistance of a loan made under this chapter, then that portion of the original principal amount that has not been forgiven, if any, shall be repaid.
Iowa Admin. Code r. 265-40.2