Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 1 - General › Rule 265-1.3 - Organization, Programs and Operations

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Location.
The main office of the authority is located at 1963
			 Bell Avenue, Suite 200, Des Moines, Iowa 50315. Office hours for the authority
			 are 8 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays.
The title guaranty division (division) of the authority is
				located at 1963 Bell Avenue, Suite 200, Des Moines, Iowa 50315. Office hours
				for the division are 8 a.m. to 4:30 p.m., Monday through Friday, excluding
				legal holidays. Additional information concerning the division can be found in
				Chapter 9 of the authority's administrative rules (265-Chapter 9).
The authority's website address is
www.iowafinanceauthority.gov
,
				and its telephone and facsimile numbers are: (515)725-4900 (general);
				1-800-432-7230 (toll-free); 1-800-618-4718 (TTY); and (515)725-4901
				(facsimile).
(2)
Authority board and staff.
The powers of the authority are
			 vested in and exercised by a board of nine voting members, appointed by the
			 governor and subject to confirmation by the senate. The authority also includes
			 one ex officio, voting member of the agricultural development board created in
			 Iowa Code section 16.2C, who must be designated by that board. The ex officio,
			 voting member designated by the agricultural development board shall serve at
			 the pleasure of that board. The authority also includes four ex officio,
			 nonvoting legislative members, as set forth in Iowa Code section 16.2(3). A
			 chairperson, vice-chairperson and treasurer are elected annually by the
			 members, generally at the July board meeting each year. Authority staff
			 consists of an executive director, also appointed by the governor and subject
			 to confirmation by the senate, and additional staff as approved by the
			 executive director.
(3)
Meetings.
Regular meetings of the authority shall be held on
			 the first Wednesday of each month, unless another time of meeting is designated
			 by the authority. Meetings may also be held at the call of the chairperson or
			 whenever two members so request. The purposes of such meetings shall be to
			 review progress in implementation and administration of authority programs, to
			 consider and act upon proposals for authority assistance, to establish policy
			 as needed, and to take other actions as necessary and appropriate. The
			 authority will give advance public notice of the specific date, time and place
			 of each authority meeting, and will post the tentative agenda for each meeting
			 at the main office of the authority, as well as on the authority's website, at
			 least 24 hours before commencement of the meeting. Meetings may occasionally be
			 conducted by electronic means. Any interested party may attend and observe
			 board meetings except for any portion of a meeting that may be closed pursuant
			 to Iowa Code section 21.5. Minutes of meetings are available for viewing at the
			 authority's offices or via the authority's website. Six members of the board
			 constitute a quorum, and the affirmative vote of a majority of the voting board
			 members is necessary for any substantive action taken by the authority. The
			 majority shall not include any member who has a conflict of interest, and a
			 statement of a conflict of interest shall be conclusive for this
			 purpose.
(4)
Programs of
			 the authority.
The authority's program subdivisions include: housing,
			 economic development, state revolving fund, and title guaranty division. The
			 authority operates the following programs, among others (this list is not
			 exhaustive), under these subdivisions:
a.
			 Housing: First Home, First Home Plus, Housing Assistance Fund, Iowa Housing
			 Assistance Program, Low-Income Housing Tax Credits, Mortgage Credit
			 Certificates (MCCs), Multifamily Preservation Loans, State Housing Trust Fund
			 and Section 8 Contract Administration.
b. Economic development: Main Street
			 Revitalization Loans, Economic Development Loans and Private Activity Bond Cap
			 Allocation.
c. State revolving
			 fund: Iowa Water Pollution Control and Drinking Water Facilities Financing
			 Program.
d. Title guaranty
			 division: Issuance of Title Guaranty Certificates.