Iowa Admin. Code r. 261-212.6

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 261-212.6 - Ineligible projects

The board shall not approve an application for assistance under this program under any of the following circumstances:

1. To refinance an existing loan.

2. To fund a project that has previously received financial assistance under the vision Iowa program, unless the applicant demonstrates that the assistance would be used for a significant expansion of the project.

3. A project in which vision Iowa funding would constitute more than 50 percent of the total project costs. A portion of the resources provided by the applicant for project costs may be in the form of nonfinancial support.

Iowa Admin. Code r. 261-212.6