2020 Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 16 - IOWA FINANCE AUTHORITY
Section 16.194 - Iowa jobs program.
16.194 Iowa jobs program.
1. An Iowa jobs program is created to assist in the development and completion of public construction projects relating to disaster relief and mitigation and to local infrastructure. “Local infrastructure” includes projects relating to disaster rebuilding, reconstruction and replacement of local public buildings, flood control and flood protection, and future flood prevention.
2. A city or county or a public organization in this state may submit an application to the authority for financial assistance for a local infrastructure competitive grant for an eligible project under the program, notwithstanding any limitation on the state’s percentage in funding as contained in section 29C.6, subsection 17.
3. Financial assistance under the program shall be awarded in the form of grants.
4. The authority shall consider the following criteria in evaluating eligible projects to receive financial assistance under the program:
a. The total number and quality of jobs to be created and the benefits likely to accrue to areas distressed by high unemployment.
b. Financial feasibility, including the ability of projects to fund depreciation costs or replacement reserves, and the availability of other federal, state, local, and private sources of funds.
c. Sustainability and energy efficiency.
d. Benefits for disaster recovery.
e. The project’s readiness to proceed.
5. An applicant must demonstrate local support for the project as defined by rule.
6. Any award of financial assistance to a project shall be limited as follows:
a. Up to seventy-five percent of the total cost of a project for replacing or rebuilding existing disaster-related damaged property.
b. Up to fifty percent of the total cost for all other projects.
7. In order for a project to be eligible to receive financial assistance from the authority, the project must be a public construction project pursuant to subsection 1 with a demonstrated substantial local, regional, or statewide economic impact.
8. The authority shall not approve an application for assistance for any of the following purposes:
a. To refinance a loan existing prior to the date of the initial financial assistance application.
b. For a project that has previously received financial assistance under the program, unless the applicant demonstrates that the financial assistance would be used for a significant expansion of a project.
9. a. The total amount of allocations for future flood prevention, reconstruction and replacement of local public buildings, disaster rebuilding, flood control and flood protection projects shall not exceed one hundred sixty-five million dollars for the fiscal year beginning July 1, 2009.
b. Any portion of an amount allocated for projects that remains unexpended or unencumbered one year after the allocation has been made may be reallocated to another project category, at the discretion of the authority. The authority shall ensure that all bond proceeds be expended within three years from when the allocation was initially made.
10. The authority shall ensure that funds obligated under this section are coordinated with other federal program funds received by the state, and that projects receiving funds are located in geographically diverse areas of the state.
11. For purposes of this section, “public organization” means a nonprofit organization that sponsors or supports the public needs of the local community.
2009 Acts, ch 173, §8, 36; 2013 Acts, ch 142, §14 – 19
Referred to in §12.87, 16.195
