Iowa Administrative Code › Agency 261 - Economic Development Authority › Part X - Rural Housing Needs Assessment Grant Program › Chapter 200 - Reinvestment Districts Program › Rule 261-200.4 - Preapplication Process

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Purpose.
The program includes a preapplication process to
				assist with the administration and implementation of the program. The purposes
				of the preapplication process are to provide information related to the
				requirements of this chapter, to determine the interest of municipalities in
				establishing districts under this chapter, including the amount of potential
				funding requests, and to assist municipalities in preparing a proposed district
				plan. The authority and the board will utilize the preapplication process to
				gauge the level of demand for funding under the program, accept initial project
				plans and requests for funding, make provisional determinations about the
				amount of maximum benefits, and notify applicants of the board's provisional
				funding decisions. While all funding decisions made during the preapplication
				process are provisional and subject to change, the process is intended to
				indicate the board's willingness to approve future financial assistance for
				projects that meet the requirements of this chapter.
(2)
Preapplication required.
The board will only approve a proposed district plan if that plan has been
				submitted during the annual filing window as described in this rule.
(3)
Annual filing window.
Each year that funding is available, the authority will announce an annual
				filing window to accept preapplications under the program. The purpose of the
				annual filing window is to enable the competitive scoring of applications and
				facilitate funding decisions by the board that are within the limitations
				established for the program by the general assembly. A municipality interested
				in applying to the program must submit a preapplication during the annual
				filing window or wait until the next annual filing window.
(4)
Preapplication submission
				requirements.
Each preapplication submission shall demonstrate
				compliance with the requirements listed in rule
				261-200.5 (15J) to the greatest
				extent possible. While the preapplication process is provisional in nature and
				is designed to allow applicants to make reasonable changes to the proposed
				district plan before a final application is considered, the board is more
				likely to approve funding for proposed districts that meet all requirements of
				rule 261-200.5 (15J) during the
				preapplication process.
(5)
Provisional funding decisions.
a. The board, with the assistance of the
				authority, will evaluate the preapplications and assign them a provisional
				score based on the criteria described in rule
				261-200.6 (15J). Based on the
				results of the scoring, the board will make provisional funding decisions and
				notify applicants.
b. A provisional
				funding decision represents an initial judgment by the board about the merits
				of a proposed district plan and is provided for the convenience of both
				applicants and the board for the better administration of the program. A
				provisional funding decision shall not be construed as binding on the board nor
				will the applicant be required to meet all of the details contained in the
				preapplication. A provisional funding decision shall not be construed as a
				final approval by the board. A municipality shall not adopt an ordinance or
				resolution establishing a district based on a provisional funding
				decision.
c. The final details of a
				proposed district plan and a final funding decision, including a maximum
				benefit amount and a commencement date, shall be contingent upon the receipt of
				a full, final, and complete application and upon final action by the board to
				ratify, amend, defer, or rescind its provisional funding decision as provided
				in rule 261-200.7 (15J).
d. The department of revenue will not deposit
				moneys into a fund until a final application is approved by the board and an
				ordinance or resolution has been adopted by the municipality.