Vacant State Building Rehabilitation Fund

Agency: Iowa Grants
State: Iowa
Type of Government: State & Local
NAICS Category:
  • 236220 - Commercial and Institutional Building Construction
Posted Date: Dec 14, 2021
Due Date: Feb 28, 2022
Solicitation No: 316965
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-316965-Vacant State Building Rehabilitation Fund
Vacant State Building Fund
Application Deadline: 02/28/2022 11:59 PM
Award Amount Range: Not Applicable
Project Start Date: 12/01/2021
Project End Date: 10/01/2024
Award Announcement Date: 10/31/2021
Eligible Applicant: Cities or counties in the State of Iowa with vacant state-owned building in the city or county.
Program Officer: Ed Basch
Phone: 515-348-6208 x
Email: ed.basch@IowaEDA.com
Categorical Area: Community Development, Economic Development, Historic Preservation, Rural Issues
Description

Vacant State Building Rehabilitation or Redevelopment fund: A loan program established to fund the rehabilitation or redevelopment of a vacant buildings owned by the state that are no longer used for state purpose. The loan can be forgivable as long as there is accountability and results with the majority of funding for the project from other sources. There will be a five year lien on the building(s) that is rescinding. $750,000 dollars is allocated for the 2021 - 2022 fiscal year.

Program Parameters:

  • Must have a state-owned vacant/no longer used for a state purpose building in your community or county.
  • Applications will be reviewed on a competitive basis.
  • County/City can apply for both grant and loan for the same project.
  • County/City is the applicant. IEDA contract will be with the County/City.
  • IEDA will give funding priority to new applicants.
  • For a large campus, application can request funds for one part of a larger project as long as the ownership of the entire campus leaves state control.
  • A contract if awarded will be between the State and The City/County.
  • If awarded, a development agreement between the City and the Developer will be required to be finalized before the first draw of funds.
  • A resolution from the City council in support of the project will be required with the application for assistance.
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