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  Funding Opportunity Details
 
 -154075-Nuisance/Abandoned Property Remediation Fund
  Nuisance/Abandoned Property
  Application Deadline: 07/31/2099 12:00 AM
 
 
Award Amount Range: Not Applicable
Project Start Date: 05/01/2016
Project End Date: 05/01/2019
Award Announcement Date:
Eligible Applicant: Cities
Program Officer: Ed Basch
Phone: 515-348-6208 x
Email: ed.basch@IowaEDA.com
Categorical Area: Community Development, Economic Development, Rural Issues
 
 
Description
 
 

Purpose

The Nuisance Property and Abandoned Building Remediation program provides financial assistance to communities to remediate nuisance buildings and structures.

The administrative rules for the Nuisance Property and Abandoned Building Remediation program can be found in Iowa Administrative Code, section 216- Chapter 22.   Please refer to these rules as necessary for more information regarding program requirements.

Eligibility and available funds

Cities within the state of Iowa are eligible applicants. 

A project may include properties at multiple sites and locations, whether contiguous or not, as long as all properties to be remediated or redeveloped are included in the redevelopment plan described in the within the application.  

The program does not have a minimum or maximum loan request amount.  IEDA will evaluate requests and approve loan amounts based on application scoring and the amount of program funds available.   

33% of available funds for 2016 will be set aside for communities with populations of under 10,000 until September 1, 2016.  After September 1, 2016, any uncommitted funds will be made available to communities of all sizes. 

Uses of Funds

Loan monies can be utilized for the demolition or remediation and reuse of residential, commercial, industrial or institutional structures.  All buildings made part of the program must be documented as representing a public nuisance through abandonment, chronic building code violations, or structural dilapidation to the point of being hazardous to the public health, safety and welfare.

Communities may use funds only for costs directly related to the project as proposed within an application. The authority may require documentation or other information establishing the actual costs incurred for a project.  The amounts of any lien created for costs related to remediation cannot be paid with Nuisance Property and Abandoned Building Remediation program funds.

The amount of the loan, term, interest rate,  repayment schedule, and other terms will included in the contract between the community and IEDA.  

Rates and Terms

Assistance under the Nuisance Property and Abandoned Building Remediation program will be in the form of a short term loan.  Interest rates will vary based on the term of the loan.  Terms and rates will be as follows:

12 month term

1%

24 month term

2%

36 month term

3%

 
Communities with a population of 2,000 or less may request a loan at 0%.  IEDA will consider the request and make a final determination during the application review process.

Communities may make loan payments to IEDA on a quarterly, semi-annual or annual basis.    

Projects funded through the program must be completed within the term of the loan.   

Evaluation criteria

Applications should describe how the proposed activities will allow the city to undertake redevelopment activities in a comprehensive and coordinated manner. 

 IEDA staff will review applications under a competitive criteria review system.  Review criteria include:

  • Financial need of the community
  • Extent of blight in the community
  • Condition of housing stock in the community
  • Administrative and operational capacity
  • Percentage of low to moderate income residents in the community

Each of the five review criteria has maximum of 20 points; the maximum score for an application is 100 points.  Applications must achieve a score of at least 50 points to be considered for funding.  The IEDA Director will make the final funding decision on each application.  Final funding decisions will be based on application scores and the amount of funding available.

Submitting Your Application

  • Applications must be submitted electronically through iowagrants.gov
  • Applications can be submitted at any time and will be considered on a rolling basis as funds are available. Please contact IEDA before applying to ensure funding is available.
  • Costs incurred in the preparation of this application are not eligible to be reimbursed with program funds.

For further information concerning this program, please contact IEDA project Manager Ed Basch at 515.725.3012 or via email at Ed.Basch@iowa.gov.

Public Records Policies

The Iowa Economic Development Authority (IEDA) is subject to the Open Records law (Iowa Code Chapter 22). Treatment of information submitted the IEDA in a Nuisance Property and Abandoned Building Remediation application is governed by the provisions of the Open Records law. All public records are available for public inspection.

 
 
 
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 Iowa.gov – The Official Website of the State of Iowa. Dulles Technology Partners Inc.