Iowa Admin. Code r. 761-822.11

Current through Register Vol. 47, No. 13, December 25, 2024

Rule 761-822.11 - Project evaluation and approval

(1)Staff review. Department staff shall review the contents of each application and request any additional information necessary to understand the scope and benefits of a project. Projects involving job creation which do not meet 100 percent of the annual laborshed wage rate for their area will not be considered. Department staff may visit the project site and may require the applicant to verify the information in the application. After department staff determines that the application is complete, the staff shall develop a funding recommendation and shall schedule the project for submission to the transportation commission for approval.

(2)Commission evaluation. The transportation commission shall be responsible for selecting and determining the funding for each project, subject to the availability of railroad revolving loan and grant funds. The transportation commission may fund all or part of a project and may make funding dependent upon the applicant's adherence to a time schedule or fulfillment of specified conditions, including job creation commitments.

(3)Commission approval. In making its decision to fund a project, the transportation commission may consider the railroad transportation service benefits of the project, the economic development benefits of the project, the applicant's total capital investment, the number of direct and indirect jobs to be created or retained by the project, the financing requested, an analysis of public benefits versus public costs, and other potential impacts or benefits of the project.

Iowa Admin. Code r. 761-822.11

ARC 7909B, IAB 7/1/09, effective 7/1/09

Amended by IAB July 4, 2018/Volume XLI, Number 1, effective 8/8/2018